Sinn Féin Finance Spokesperson Pearse Doherty TD has said the decision by Minister Michael Noonan to support the €843,000 pay package of Bank of Ireland CEO Richie Boucher proves that the Minister is a lapdog of the banks.
Deputy Doherty said:
“Once more Minister Noonan has proved himself to be unable and unwilling to stand up to the banks. His support for the obscene salary of €843,000 for a CEO at a bank that only exists because the Irish people bailed it out is further proof that he is a lapdog to the banks.
“Last year Minister Noonan abstained in this vote on the basis that he was awaiting the Mercer Report on bankers’ salaries. Since then Bank of Ireland have given their submission to Minister Noonan and we know that their top bankers have not taken a cent of a cut.
“This flies in the face of what An Taoiseach Enda Kenny told the Dáil this time last year that he expected a “substantial contribution from the bank leadership on pay and pensions”. The bank is defying the government’s stated position yet Minister Noonan has rolled over and supported Richie Boucher’s €843,000 yesterday. He must explain why.
“Last month the Finance Committee heard that Bank of Ireland is only meeting their mortgage resolution targets by taking over 4,000 legal cases against homeowners. Minister Noonan says he is not happy about this fact but will do nothing to intervene. He is hiding behind the Central Bank on mortgages as he is hiding behind the last Fianna Fail government on the Boucher pay issue.”