Sinn Féin Finance Spokesperson Pearse
Doherty TD has said the government has once again failed to reel in top
bankers. Deputy Doherty made this comment after CEOs from Ulster Bank, Bank of
Ireland, AIB and PTSB confirmed to him that not a single banker
earning over €100,000 in any state-owned bank has taken a pay-cut in the last
year.
Deputy Doherty said:
“Minister Noonan spent €120,000 of
taxpayer’s money on the Mercer Report. He then
committed to cut banks’ payrolls by 6-10%. In April this year under pressure
from Sinn Féin An Taoiseach Enda Kenny said that he expected this to ‘include a
substantial contribution from the bank leadership on pay and pensions’. None of the state-owner banks’ proposals includes any cuts to
the basic salary to the top earners.
“This year the Finance Committee
heard that the three state-owned banks have sent out over 10,000 letters
threatening repossession. Earlier this year Minister Noonan
refused to use his shares to block the
€843,000 remuneration package of Bank of Ireland CEO Richie Boucher. Those two
facts show how this government’s banking strategy is a failure.
“The government has failed abysmally
to stand up to the banks and their arrogant leadership. There are 2,716
employees at these banks who earn packages over €100,000, over 100 of whom earn
more than €300,000. Yet not one of these employees has taken a cut to their
basic salary.
“This stands in stark contrast to the
austerity this government inflicts to people the length and breadth of the
state. Minister Noonan needs to be reminded
that the people own PTSB and AIB and a 15% share in Bank of Ireland. He needs
to let these banks know that a payroll cut that doesn’t hit the highest earners
is unacceptable.”
Sinn Féin Mountmellick – Serving The Community
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