Thursday, 2 May 2013

Questions (59, 60)

Dominic Hannigan

Question:

59. Deputy Dominic Hannigan asked the Minister for Finance his plans to cap the number of consultants who are allowed work in AIB; and if he will make a statement on the matter. [20911/13]

View answer

Dominic Hannigan

Question:

60. Deputy Dominic Hannigan asked the Minister for Finance if there is a policy on when AIB is allowed hire consultants to work in the bank; and if he will make a statement on the matter. [20912/13]

View answer

Written answers (Question to Finance)

I propose to take Questions Nos. 59 and 60 together.

As the Deputy will be aware the Relationship Framework with the bank provides that the State will not intervene in the day-to-day operations of the bank or their management decisions. These frameworks are published on the Department of Finance website. I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset to the State, as per the Memorandum on Economic and Financial Policies agreed with the EU Commission, the ECB and the IMF.

The appointment of any consultant by AIB is a commercial decision for the bank.