Mr. Derek Moran:

We contracted Korn Ferry to conduct a review of the cap on bankers' pay and its implications at the end of last year and have received a report from it. We have consulted the Central Bank and anticipate a response from it shortly. We have seen a massive increase in the size of the financial system and there is a lot of cannibalising of staff going on across the system but in terms of financial stability, we think it is important to consult the Central Bank. I anticipate that the Minister will consider this report in the coming weeks when we get the response from the Central Bank.