Friday, 10 December 2010
Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed)
Brian Lenihan Jnr (Minister, Department of Finance; Dublin West, Fianna Fail)
----- I will include a provision in the upcoming Finance Bill to introduce a 90% tax rate on any future banker's bonus in all guaranteed institutions. In addition, the Government has recently passed new Central Bank legislation, which gives the Central Bank the power to take enforcement action in the event of non-compliance by the banks with remuneration policies. The Central Bank has seen a significant increase in its staff to allow for any necessary enforcement action.