Bank of Ireland executive pay
Senator O’Brien questions the Government’s decision to abstain on Bank of Ireland remuneration packages, while procedural interjections concern interruptions and the Chair’s control of the debate.
Will the Leader outline the rationale for the Minister for Finance, Deputy Noonan, deciding tomorrow at the Bank of Ireland AGM to abstain from voting on the remuneration packages of the board of directors and senior executives, such as Mr. Boucher, who will be paid a package of €910,000, and the governor of the Bank of Ireland, whose package will be in the region of €500,000, including €49,000 for consultancy fees, and why the Minister decides, on behalf of the taxpayers who own 15% of this bank, to not even exercise his vote one way or the other? I remind the Minister that the taxpayer put €4.7 billion into Bank of Ireland, some of which has been recouped, which I welcome. I cannot understand for the life of me how the Minister for Finance, on behalf of the people, is remaining silent on the remuneration package. People across this country and those to whom I speak in north Dublin do not want to remain silent on their views about the level of executive pay in the banks, specifically in Bank of Ireland. Perhaps the Leader can explain what rationale there is that the Minister-----
Comment on this
The Minister was able to prevent the danger of being outvoted.
Comment on this
Senator Paul Coghlan has a track record in speaking on banks. Perhaps he can tell me why the Government, on behalf of the people, has no opinion on bankers' pay in Bank of Ireland.