Minister Donohue’s review signals the start of process to allow bankers’ bonus return - Pearse Doherty TD
Sinn Féin Finance spokesperson Pearse Doherty TD has warned the announcement of a review of bankers’ remuneration marks the beginning of a process that will lead to a return of obscene bankers’ pay and bonuses.
Deputy Doherty welcomed the Minister’s’ intention to vote against the proposed bonus scheme at AIB but said that to be consistent - the Minister should vote against the remuneration of Bank of Ireland CEO which breaches the cap.
Deputy Doherty said:
“I fear today’s announcement marks the beginning of a return to the days of runaway salaries and bonuses at the banks.
"Given the behaviour in recent times of the banks including the ongoing tracker scandal and rip off interest rates that is very worrying.
"The bonus culture was a deeply toxic one that should not be allowed re-emerge at any bank owned by the State.
"I welcome the Minister’s stated intention to veto the AIB scheme but to be consistent he should vote against the remuneration policy of the Bank of Ireland CEO which breaches the €500,000 pay cap.
"The super-tax on any bankers’ bonus must remain in place. Only the Dáil can remove this and Sinn Féin will not be supporting any proposal to remove it or dilute it.”