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Dáil
‹ Order of Business

Bank remuneration and Irish Life jobs

Summary

Pearse Doherty seeks publication of the Mercer review and legislation to reduce senior bankers' remuneration, while expressing concern about Irish Life and Canada Life workers; the Taoiseach says the draft is being finalised and will be published soon.

I understand the Minister has a draft of the Mercer report on the remuneration of high ranking bankers and banking officials. When will the report be published and when will legislation on it be introduced? The Taoiseach's statement that there will not be compulsory redundancies at Irish Life does not lay to rest the fears of 2,800 workers in Irish Life and Canada Life, many of whom are low paid, given the announcement today that there will be voluntary redundancies. When will high ranking officials in the banks have their wages slashed, as promised by the Government?

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Seán Barrett An Ceann Comhairle Fine Gael

We are not having speeches. To which Bill is the Deputy referring?

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Enda Kenny The Taoiseach Fine Gael

He is referring to the review of remuneration practices and frameworks. Deputy Pearse Doherty received a letter dated 15 February indicating what is the current position, namely, the office of the Minister for Finance is in discussions concerning the draft report presented by the consultants to the Department. It is hoped the report will be finalised very soon. The Minister is committed to publishing the details which underpin the remuneration review in view of the public interest in this matter. That should not be too long.

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