Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I do not know the details of the issue the Deputy has raised. Clearly, we had discussions in the House about the extraordinary levels of pay paid to the chief executives of a number of the banks. A few years ago they were as high as €3 million. When the Government came into office, an upper limit of €500,000 was put on the pay of top bankers and that limit has not been breached.

In regard to the Mercer report, the Minister recommended to the banks that they make a substantial contribution from pay and pensions in the order of 10%. The Government has not yet considered the Mercer report.

In regard to the TSB, this is an internal decision that has been taken by management and it has nothing to do with the Minister for Finance. I understand the matter is before the Labour Court; therefore, it is obviously not appropriate for me to comment without having all of the details before the Labour Court. I take the Deputy's point on the impact of this decision on ordinary workers and those on very ordinary rates of pension, but this is an internal management decision by the TSB which, as I understand it, is before the Labour Court.

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