Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

-----to help to ensure that indigenous Irish SMEs and corporates can access capital markets to fund their future growth plans which will underpin Ireland's economic recovery as we emerge from the Covid-19 pandemic. The decision is good news for Fexco, which is an important employer in the south west. It can use the proceeds it receives to continue to grow and innovate in financial services and maintain employment in the region. It has been a leading employer there for quite some time.

The standard remuneration arrangements in stockbroking business are not similar to retail and commercial banking and never have been. That is a fact. The Minister for Finance has ring fenced the staff in Goodbody from the rest of the AIB group and will ensure ongoing compliance with Government policy on bank remuneration. There has not been a change to Government policy on bank remuneration. There has been no change in relation to that. The Minister for Finance will be in the Chamber this evening to debate this at greater length and to take questions from Deputies on it. AIB is acquiring a business with a variable pay structure. The bank will continue to observe strictly the Government's remuneration restrictions. Controls and measures are in place under the deal to provide complete transparency in this regard. Under the terms of the acquisition-----

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