Results 27,761-27,780 of 35,894 for speaker:Pearse Doherty
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: We will come to that later.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: The NTMA has new and wide-ranging powers in respect of semi-State organisations. The Minister of State mentioned that there were no pay caps in the NTMA and provided a rationale for that, even though we may not agree with it. There is no prohibition on bonuses in that remuneration structure. Even during my time as a Member of the House, some former NTMA employees were receiving more than...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: I am nearly finished. The Minister of State mentioned that there was no-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: I cannot agree without the permission of my party Whip. I would need to consult. The Minister of State mentioned that remuneration in the NTMA was lower than the cap on bankers' pay. Since there is no cap on the NTMA, its remuneration could exceed that of the banks. As we know, no one in the NTMA earns more than €500,000, so it is in line with the banks. Did the NTMA allow...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: I will ask the question again.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: Is €300,000 reasonable?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: The remuneration that is proposed will not be guided by the Government's pay caps.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: I would say that some of the bankers would suggest that they not working for the State either but pay caps are laid down for them, rightly or wrongly. I believe it is right. The Minister of State has answered the question clearly. They will not be guided by the Government's pay caps and it is up to the Minister to determine.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: For the banks?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: The figure for the banks is €500,000. I do not think we should be jumping up and down.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: Just to clarify, there are a number of new committees and structures envisaged in this legislation that will have a number of appointees and staff but the Government does not intend to have any pay caps in respect of those appointees and it will be at the discretion of the Minister to award the remuneration as he or she sees fit?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: That is fine. I understand the role the NTMA has played and how the NPRF has performed forgetting the fact that the Government directed large amounts of that into bust banks. I am just going into the detail of it. There are no pay caps in terms of any of the new committees that are being formed such as the investment committee. Does the remuneration structure allow for bonuses? Given...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: My question relates to the agency and its staff in general. Is the agency governed by public sector pay caps set by the Government?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: Therefore, they will receive remuneration and may, as we said earlier, receive an additional allowance if they end up as chair of the agency. The Government is not minded to have any cap - €400,000, €500,000, €600,000, €700,000 or €800,000. There is no cap whatsoever.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: That is fair enough. In regard to section 8, Schedule A deals with members of the agency and also with disqualification from appointment. Just to be crystal clear, I seek clarification on what this includes. Section 5(2) stipulates that an appointee will cease to be an appointed member if certain events unfold. The legislation states a Member of the Houses of the Oireachtas, the European...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: The legislation refers to both Houses of the Oireachtas. Does that cover it? Are all arms of the Oireachtas covered?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: For argument's sake, if an official sitting behind the Minister of State were a member of the agency and decided to put his name forward to become President of the State-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: -----would he be disqualified from being a member of the agency on his election to that high office?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)
Pearse Doherty: If an individual who is competent enough to be a member of the agency stands for election to his or her local authority and is elected, he or she may no longer be a member of the agency. The same applies if he or she stands for election to the Seanad or the Dáil. However, if he or she runs for election as President, he or she can remain a member of the agency.