Robert Dowds (Dublin Mid West, Labour) | Oireachtas source

Like Deputy Humphreys I believe it is unacceptable that the banks - in this case the Bank of Ireland - despite their having been bailed out by Irish taxpayers continue to refuse to cap executives' pay. I also believe the Government has been too soft on the banks for too long. It is now time for the Minister for Finance to take a stand on behalf of the public when dealing with them.

The banks are hounding mortgage holders, refusing to give credit to small businesses and, in paying these enormous salaries, laughing in the faces of Irish people. It is not that a cap of €500,000 is too low. What the banks are doing is brass neck greed. We all know that the banks played an enormous part in driving this country off the cliff. We owe them nothing. I call on the Minister for Finance to use the Government's 15% shareholding in Bank of Ireland on behalf of the Irish nation.

What bothers me most about the appalling behaviour of so many banks is the undermining effect it has had on people's confidence in our institutions which, in turn, affects our economy. For this reason alone, people would cheer at this issue being tackled.

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