Mr. Aidan Carrigan:

The Government has imposed very strict limits on bankers' remuneration. Recently, in response to a parliamentary question, the Minister indicated that he has further directed the banks, in view of the continuing losses therein, to come up with plans outlining how they intend to address the issue of bankers' pay to help meet the State's objectives. The Minister has indicated that he expects the plans to result in a saving of 6% to 10% in the cost of remuneration, through payroll and pension benefit reductions, new working arrangements and putting in place structures that deliver efficiency gains.