Sean Barrett (Independent) | Oireachtas source

I welcome the clarification by the chief executive of PayPal of comments referred to here yesterday about the unsuitability of many young Irish people for employment. The issue was a matter of concern to us. The comments have been clarified. The person concerned employs 1,800 people, 60% of whom are non-graduates which is good because that is where most of the unemployment lies. The complaints are in respect of timekeeping, dress code, feet on the table, bad spelling in CVs and using references. When the employer contacts the referee, the referee has not been informed. As these are issues we would wish to address, the clarification is welcome.

I support Senator Michael Mullins in regard to the attempts by the Minister for Finance to seek pay cuts of 6% to 10% in the banks. It is astonishing that since 2008, pay in IBRC has increased by 16% to an average of ¤71,300. The total remuneration package is ¤92,000. The comparators would presumably be other private sector companies but the other private sector companies are not bankrupt or banks in other countries which presumably are not bankrupt. It must be remembered that these banks destroyed their shareholders and bankrupted the country. The Minister is quite right to seek a reduction to reflect the reality of people who failed in the private sector and must conform to the pay reductions that everybody in the public sector has had to take, largely because of the errors and incompetence of the people whom he targeted yesterday. The House should welcome that, otherwise there is no penalty imposed on people who display such gross incompetence and do so much damage to this country as Irish banks have done.