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Government should block Boucher pay: Doherty

23 April, 2013 - by Pearse Doherty TD

Sinn Féin finance spokesperson, Pearse Doherty TD, has said Minister Michael Noonan should use the state’s stake in Bank of Ireland to vote against the salary of CEO Richie Boucher and other directors.

Deputy Doherty said: “Minister Noonan has indicated that he will abstain on the vote on Richie Boucher’s salary at the bank’s AGM taking place tomorrow.

"Richie Boucher took home €843,000 in 2012. His remuneration and that of other directors is up for approval by shareholders at tomorrow’s AGM.  For Minister Noonan, who is a 15% shareholder in the bank to not object to this is scandalous. This week the government refused to rule out legislating to cut the wages of frontline workers.  It seems austerity is only for lower and middle income earners.

"The minister cannot hide behind the fact that it was Fianna Fáil who agreed Mr Boucher’s pay scale. The government has had two years to act on bankers’ pay but has refused to do so. They have bottled it.

"The state has sunk billions into Bank of Ireland and now Minister Noonan is refusing to use that clout to make the top dogs face reality and take a pay-cut.” ENDS

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