Sinn Féin - On Your Side

Adams demands government reject AIB request on bankers pay

27 September, 2011 - by Gerry Adams TD


Speaking during Leaders’ Questions today the Sinn Féin President Gerry Adams challenged the government on its attitude to the capping of senior bankers’ pay.

The Louth TD asked the Taoiseach to give a straight answer and rule out any possibility that the government will breach the half a million euro cap in response to a request from AIB.

Mr. Adams said:

“In response to the economic crisis and in particular the disastrous role played by the banks, a half a million cap was placed on senior bankers’ pay. Sinn Féin and others argued for a lower rate given the plight of citizens.

“In May I asked the Taoiseach about the possibility of AIB breaking this cap. At that time he acknowledged that he had rarely seen people so frustrated at the carry-on of bankers. But the Taoiseach refused to rule out the government conceding to the AIB request.

“The Minister of Finance confirmed at the weekend that AIB has now applied to the government to negotiate a salary above half a million.

“The AIB has a cheek to ask for this obscene amount of money.

“This is unacceptable and the government must tell AIB that under no circumstances will the government allow this.

“The fact is that at this time there are almost half a million citizens unemployed. Successive budgets have hit those on low and middle incomes hardest. The December budget will impose more savage cuts.

“Contrary to the government spin that it will not increase income tax or introduce cuts to social welfare, the fact is that the policies of the government is taking more and more money from wage packets in stealth taxes.

“People are still deeply frustrated and angry at the economic mess created by the bad policies of the previous government, and of this government and the golden circle of bankers and developers.

“The government must reject any effort by AIB to allow it to employ a CEO above the half a million cap.”

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