Doherty accuses Government of ‘bottling it’ on bankers’ pay – Doherty

March 20, 2013

Sinn Fein Finance Spokesperson Pearse Doherty TD has accused Fine Gael and Labour of bottling it on bankers’ pay. Deputy Doherty confronted the government in the Dáil today over whether they would deal with the high pay of senior bankers revealed by the Mercer Report last week and in the headlines about the Bank of Ireland's CEO’s pay yesterday. 

Deputy Doherty said;

“Four years ago to the week, Fine Gael and Labour accused Fianna Fáil of bottling it on bankers’ pay. When Brian Lenihan imposed a €500,000 cap on bankers in 2009, Fine Gael and Labour called for a cap of €250,000. Sinn Fein wanted this cap to be lower, but we supported the move to reduce it from €500,000.  

“After two years in government, not only have Fine Gael and Labour failed to reduce the cap on pay from €500,000 to €250,000, but we now know that senior bankers’ pay has in fact risen on their watch. Yesterday we discovered that Richie Boucher took home €843,000 in 2012, from a bank that received billions in taxpayers’ money.

“Today when I asked the government if there were any plans to legislate to reduce bankers pay I was bluntly told that, no, there is nothing planned. This government is bottling it on bankers’ pay. They have no hesitation in implementing a property tax or in cutting the pay of frontline workers. Yet every day delayed in tackling bankers’ pay, is a day when Richie Boucher takes home an extra €2,309.”

ENDS