Dyson sucks in slashed salary

VACUUM cleaner mogul Sir James Dyson had his salary slashed last year as profits slid at his technology firm, it was revealed yesterday.

The inventor's £457,000 pay packet for 2008 pales in comparison with his £12.5 million the previous year.

Dyson, a household name since launching his bagless vacuum, took the steep pay cut as pre-tax profits at his company fell 4 per cent to £85.3m in the 12 months to 31 December as the recession took its toll.

Turnover grew 2.8 per cent to £628m in the period, though research and development spending was 6 per cent lower at £49m. Dyson stressed that research was the company's "life blood" and would continue.

During the year the company launched a new vacuum that steers on a ball instead of wheels and said it became the UK's best-selling vacuum within a month.