Oireachtas Joint and Select Committees

Thursday, 7 March 2013

Public Accounts Committee

2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions

10:50 am

Photo of Simon HarrisSimon Harris (Wicklow, Fine Gael) | Oireachtas source

Sure, no problem. This issue comes up repeatedly and obviously has come up at a European level in respect of bonuses, about which there recently has been significant progress, if that is the right word, in my view. Does Mr. Moran have a view on the balance between attracting talent into the banking sector versus reasonable cost? I make this point in the context of there being 3,000 staff working in the four bailed-out banks who are earning more than €100,000 per year, of whom approximately 27 are in receipt of salaries in excess of €500,000. As a nation, we have paid a huge cost in respect of these bailed-out banks and I seek Mr. Moran's thoughts in this regard. Based on his own external experience, what viewpoint does he bring regarding the correct balance between trying to attract talent and trying to protect the taxpayer?

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