Written answers
Wednesday, 5 October 2011
Department of Finance
Banking Sector Remuneration
9:00 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Question 26: To ask the Minister for Finance if he will give a clear commitment that there will be no consideration of lifting the cap of €500,000 on bankers' pay; and if he will make a statement on the matter. [27640/11]
Peadar Tóibín (Meath West, Sinn Fein)
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Question 27: To ask the Minister for Finance if he will ensure that the remuneration cap for bank officials will not be breached during his term of office including the recent application from Allied Irish Bank. [27663/11]
Charlie McConalogue (Donegal North East, Fianna Fail)
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Question 28: To ask the Minister for Finance his views on what he regards to be an appropriate remuneration package, including basic salary, for the next chief executive of AIB; if he will provide a progress report on the remuneration and severance arrangements that apply at the covered institutions; and if he will make a statement on the matter. [27628/11]
Joan Collins (Dublin South Central, People Before Profit Alliance)
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Question 47: To ask the Minister for Finance if he will give a clear commitment that there will be no consideration of lifting the cap of €500,000 on bankers' pay; and if he will make a statement on the matter. [27650/11]
Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 26 to 28, inclusive, and 47 together.
As I stated in a reply to a question on this matter yesterday (ref. 27136/11 of 4 October 2011), no decision has been made on the matter. As the Taoiseach, indicated in the Dáil last week, I, as Minister for Finance, will consider the matter having regard to the existing policy and bring any proposal to Government for decision.
A review of remuneration policies and practices by each of the covered institutions is ongoing. I fully recognise that there is a real public interest in the levels of remuneration at the covered institutions and I will endeavour to have this completed in the shortest timeframe possible with a view to putting the information into the public domain.
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