Written answers

Wednesday, 20 July 2011

Department of Finance

Banking Sector Remuneration

10:00 pm

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context

Question 62: To ask the Minister for Finance the provision that has been made at the Irish Bank Resolution Corporation, following the merger of Anglo Irish Bank and Irish Nationwide Building Society, due to liabilities that arise from deferred bonuses awarded to staff from the original institutions, as the IBRC assumed all outstanding liabilities; the figure of this liability; if he does not have this information, the steps he will take to inform himself of this liability; and if he will make a statement on the matter. [21629/11]

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context

Question 63: To ask the Minister for Finance when he expects to be able to provide Members with details of the levels of remuneration at the covered financial institutions; if he will provide a deadline for the furnishing of this important information to the public; and if he will make a statement on the matter. [21630/11]

Photo of Kevin HumphreysKevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context

Question 66: To ask the Minister for Finance the reason his Department was previously able to provide answers to Parliamentary Questions No. 156 of 16 December 2010 and No. 96 of 1 December 2010 on the level of remuneration and bonuses at the covered financial institutions, yet his Department did not provide the requested up-to-date information in reply to Parliamentary Question No. 124 of 12 July 2011; if his Department is now restricting access for Members to data on the banks that destroyed the economy of this State; and if he will make a statement on the matter. [21634/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

I propose to answer Questions Nos. 62, 63 and 66 together.

As outlined in my reply of 12 July 2011, to the Deputy's series of twenty four parliamentary questions on particular aspects of the remuneration of staff members in various financial institutions, as these institutions continue to be managed at arms length basis, notwithstanding the large shareholding the Government holds, I do not compile the data sought by the Deputy at the level of detail he is seeking. This also applies to his latest question (ref no 21629/11) where he seeks information on the subject of bonuses in addition to his questions of 12 July 2011.

My Department cannot compile data on a bespoke basis in relation to a large number of differently framed remuneration related questions at once, in the timeframe applicable to parliamentary replies and within the resources available, so I a seeking to find an approach that can properly respond to the clear public interest here.

Far from restricting access to such information I indicated in my reply of 12 July 2011 that I fully recognise that there is a real public interest in the levels of remuneration at the covered institutions. I have asked the institutions to compile data on remuneration practices and details with a view, as part of the remuneration review presently being conducted by the institutions at the request of my Department, to improving transparency on the issue. I will endeavour to have this completed in light of the above comments in the shortest timeframe possible with a view to putting the information into the public domain.

Comments

No comments

Log in or join to post a public comment.