Oireachtas Joint and Select Committees

Tuesday, 1 July 2014

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

National Treasury Management Agency (Amendment) Bill 2014: Committee Stage

5:55 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I move amendment No. 5:


In page 17, to delete lines 25 to 29.
The issue is not that subsection (6) in its entirety should be deleted, nor is it just about the expenses that should be provided for in terms of any other committee within the agency that it deems it appropriate to set up. The question goes back to remuneration and the fact that there is no restriction whatsoever in regard to any committee of the agency in terms of the type of remuneration package that would be appropriate or in terms of how the remuneration package should be worked out. The NTMA is one of the few agencies of the State that operates a bonus culture. There is a need for a debate on whether that bonus culture is appropriate. As I said earlier, staff have up to 80% of their wages available to them in the form of a bonus, as is the case in one contract of which we know from 2011. I am not sure if the figure of 80% was within the limit. The issue is how best to ensure we get the right people to make the right decisions. I am not satisfied that the agency can set up whatever committee it wants, with no restrictions and no transparency in terms of remuneration.

Comments

No comments

Log in or join to post a public comment.