Government position on bank pay
The Leader responds to criticism of bank executive salaries, saying the State’s influence is limited while salary caps apply in banks where it holds a majority stake.
Senator Darragh O'Brien spoke about savings of 6% to 10% in the banks. A number of Senators raised the matter again today, even though I believe I addressed it yesterday. I will not presume what the banks might do in regard to the cuts of 6% to 10% the Minister has requested. Regarding Mr. Boucher, the Government holds a 15% stake. I believe a salary of €840,000 or €900,000 is immoral. It is a salary that was negotiated by the previous Government and agreed with it.
Comment on this
For the banks in which the State has a majority stakeholding a cap has been introduced-----
Comment on this
I am trying to answer if Senator Darragh O'Brien would let me. He will have enough time to interrupt during his party's Ard-Fheis over the weekend.
Comment on this
The Leader is welcome to come along.