FINANCE MINISTER PASCHAL Donohoe has confirmed that bonuses for bankers of up to €20,000 can be reinstated and the pay cap of €500,000 lifted at Bank of Ireland.
McDonald said that Donohoe’s “reward” for the top executives in the Irish banking system came despite the tracker mortgages scandal, and Irish banks being fined for “actions that led to families losing their homes.”“We’ve seen where that has led us before,” said McDonald, citing the “economic crash and social catastrophe” that led to the last recession.“For workers and families it meant austerity and the most vicious cuts to services for the vulnerable,” she continued.
The Taoiseach argued that the opposition leader was focusing on the pay of the “top brass” in the banks for “electoral reasons,” when the cap of half a million in pay only applied to “one employee in Bank of Ireland.” Speaking to reporters today, Donohoe said the Government has yet to decide what level the Government shareholding in AIB and PTSB will need to reach before the salary cap is scrapped.
Last year, the Financial Services Union , which represents about 60% of the workforce in the bank, said the re-introduction of bonuses for senior bankers would be unpopular if it occurs before the Government’s new accountability regime for senior figures at regulated financial firms isn’t operational.It is understood the FSU has been calling for the lifting of restrictions on variable pay and benefits up to €20,000.
Hayes said the loss of two significant retail banks recently has put a spotlight on the landscape and the environment for retail banking in Ireland. Along with bankers’ pay, the review will look at the current retail banking landscape and likely market trends over the next decade. It will also deal with competition, consumer protection and consumer choice, as well as options for the mortgage market.
This is in addition to the 95 new electric and battery-electric DART carriages already approved by the Government last December, for delivery in 2025.As part of the cost-of-living measures to be enacted this year, Education Minister Norma Foley will bring a memo to Cabinet in relation to the €90 million being provided in one-off additional funding to support increased running costs for primary and post-primary schools in light of rising energy costs.
All whilst Croke park hours still exist. This doesn't seem right now does it...
Maybe I'm wrong, but do we not have the highest Mortgage Interest rates in Europe and the lowest deposit interest rates. Something tells me our financial system is as corrupt as it was 20 years ago. Nothing has changed!
The FF/FG/GP Cartel looking after their Pals again ✉💶💶💶💶💶🤝
Does that mean they are also going to rescind the 'temporary 'USC and pension levy they put upon us,the perpetually screwed taxpayer, to bail out same banks!!
You really can get away with anything if you’re high enough up the ladder in magical, mystical Ireland. The corruption is sickening. FineGael fiannafailparty
What reward did she and her party get for their involvement with Jonathan Dowdall?
She's right too when you think more than half politicians are landlords anyway and only looking after themselves why aren't the guards getting involved with this obvious white color crime banks getting well paid 4 scuring the country few years back with government backing
Stop the greed !
Understandable the challenges faced in banking industry but citizens still angered over the 2008 banking crisis and how so many bankers left us down and were bailed out. Appreciate most have retired moved on but none were held accountable for misleading the government