Pearse Doherty (Donegal South West, Sinn Fein)
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The NTMA has new and wide-ranging powers in respect of semi-State organisations. The Minister of State mentioned that there were no pay caps in the NTMA and provided a rationale for that, even though we may not agree with it. There is no prohibition on bonuses in that remuneration structure. Even during my time as a Member of the House, some former NTMA employees were receiving more than €400,000 in bonus payments. That is no longer the case, but it is being provided for in the legislation. For example, is it acceptable that the NTMA's CEO would get €490,000 per annum and be entitled to a bonus of 80% of his or her annual wage? When creating these new structures in legislation, should we not at least discuss whether this type of remuneration is appropriate? Should there be a reward system for performing well and how do we mark that performance if some of our State assets have been privatised along the course?