Michael McGrath (Cork South Central, Fianna Fail)
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Question 120: To ask the Minister for Finance if his sanction was required prior to a bank (details supplied) confirming a 3% pay rise for its staff; and if he will make a statement on the matter. [46679/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Deputy will be aware that I have an "arms length" relationship with the named covered institution. As Minister for Finance I am not in a position to direct pay policy in a private sector company. I have previously pointed out that the pay award in question arose from an agreed interim Labour Relations Commission recommendation on remuneration matters before it involving non-senior staff and does not cover the payment of National Wage Agreement increases.