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Revoke pay increases for NAMA Board – Morgan

12 March, 2010


Sinn Féin Finance Spokesperson Arthur Morgan has called on the Minister for Finance Brian Lenihan to revoke the increases in pay for the members of the Board of NAMA which were revealed yesterday. Deputy Morgan described the massive pay increases as an insult to ordinary public sector workers who are being asked to take pay cuts.

Speaking today Deputy Morgan said:

“Today public service unions are entering into pay talks with the Government on behalf of the hundreds of thousands of public sector workers whose incomes were decimated in the Budget. The Government are trying to silence the public sector and to make teachers, nurses and Gardaí up and down this State accept the drop in their incomes. This is against the backdrop of a 70% pay increase for the Chairperson of the Board of NAMA and significant increases for the other Board members.

“This revelation is a part of a litany of injustices to ordinary workers to arise out of the Budget. Not only did the lowest earners see their incomes slashed, but they saw the top earners in the public sector have their pay-cuts reversed and now members of the NAMA board have had their incomes revised upwards.

“The Government indicated that pay cuts were essential in reducing the public sector pay bill, but it seems that these savings are being wasted on funding extraordinary pay rises for the Board of NAMA – the Board that has been set up to try and clear up the mess that Fianna Fáil and their cronies made of the banking sector in the first place.

“Sinn Féin showed tangible evidence that savings could be achieved and it didn’t include slashing the incomes of the low and middle income earners, while topping up the incomes of the NAMA Board.

“These double standards cannot continue. The salary increases to the Board members of NAMA should be revoked and they should receive the remuneration that was indicated originally. They Government cannot justify paycuts for some people but incredible 70% pay increases for others. The Minister for Finance should apologise to each and every public sector worker for this insult.” ENDS

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