Dáil Éireann Debate, Wednesday - 21 September 2011
25 Deputy Paschal Donohoe asked the Minister for Finance in view of the fact that the State now has majority ownership of AIB, his plans for staff in AIB to take a pay reduction like other workers in the public service; and if he will make a statement on the matter. [25290/11]
View answerAs the Deputy is aware a review of remuneration policies and practices by each of the covered institutions is under way. As part of that review, the institutions were asked to consider measures that could be taken to realign staff expectations with regard to remuneration and benefits in the current economic environment and financial circumstances of the banks. The review exercise is ongoing. I fully recognise that there is a real public interest in the levels of remuneration at the covered institutions. I will endeavour to have this completed in the shortest timeframe possible with a view to putting the information into the public domain. It is not correct to state — as the Deputy infers in his question — that employees of AIB are part of the public service. He will also appreciate that it is an inevitable, but unfortunate, consequence of the necessary restructuring of the banking system that job losses in the industry will arise.
