Vol. 434 No. 9
152 Mr. B. O'Keeffe asked the Minister for Enterprise and Employment if he will request senior managers in industry to show example by accepting no pay rises in 1993 in view of the fact that their salaries grew, on average, by 35 per cent over the past five years.
Pay increases for senior managers in industry are a matter for negotiation and agreement between them, their representatives and their employers in accordance with the voluntary nature of our free collective bargaining system. A number of surveys provide some information on developments in relation to senior executives' pay. However these need to be analysed carefully. Very often such factors as performance related pay, bonuses, merit awards and other elements of remuneration are included on top of basic pay increases.
Pay moderation is an important component of competitiveness and I should expect that pay increases for senior managers would take this into account as well as respecting the provisions for basic pay increases set out in the Programme for Economic and Social Progress.
