Pearse Doherty (Donegal South West, Sinn Fein)
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The information will be helpful. Perhaps, one does not pay close attention to these matters. When in opposition in 2010, the Minister of State informed the public of the bonus culture within the NTMA and argued that the contracts should be ripped up and that this culture should end. However, here he is presiding over legislation that will set up new structures within the NTMA where there are no salary caps and where a bonus culture remains. Although senior officials in the NTMA have waived their 60% or 80% bonuses in recent years, the legislation does not prevent the NTMA from providing bonuses. Therefore, while the Minister of State says the highest paid official in the NTMA could receive up to €425,000, an 80% bonus could take that figure to over €700,000. This legislation does not in any way, shape or form address or debate the issue of how best the remuneration packages of staff and members of the agency and sub-committees should be dealt with. The Minister for Finance, Deputy Michael Noonan, committed to a review of remuneration, in terms of the need for greater transparency, but I do not see this in the Bill. It is lacking in that regard.