Michael McGrath (Cork South Central, Fianna Fail)
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Question 16: To ask the Minister for Finance the projected cost of the redundancy scheme at AIB; the expected payroll saving; and if he will make a statement on the matter. [14828/12]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that AIB, as part of its announcement of 8th March 2012 of a voluntary severance programme, stated "as required under the bank's partnership principles with IBOA, a consultation process will begin immediately with trade union representatives." It went on to state that "AIB will not be making any further public comment until the consultation process with staff representatives is concluded." Accordingly, the Deputy will appreciate that it would not be appropriate for me to comment on the issues raised by him in his question.