The next Government

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TheEarlofPearl

Full Member
Looks like rules on bankers bonuses will be eased,
Minister for Finance Paschal Donohoe will seek approval from the Cabinet on Tuesday to allow bailed-out banks to pay bonuses of up to €20,000 and put lenders on a path to free themselves from executive pay restrictions, The Irish Times has established.

He also plans to allow banks to provide executives with non-pay benefits, such as subsidised healthcare, which has effectively been banned since the financial crisis. The three surviving banks, AIB, Bank of Ireland and Permanent TSB, employ more than 20,000 combined.

The surprise development is on foot of a recommendation in the Department of Finance’s long-awaited retail banking review report, which is set to go to the Cabinet tomorrow.

It comes as Mr Donohoe prepares to swap roles with current Minister for Public Expenditure Michael McGrath in less than three weeks. Performance-related bonus payments are likely to be limited as banks seek to avoid driving up costs.


I thought they were clear of BOI at this stage
 

PROCNA2018

Full Member
Minister for Finance Paschal Donohoe will seek approval from the Cabinet on Tuesday to allow bailed-out banks to pay bonuses of up to €20,000 and put lenders on a path to free themselves from executive pay restrictions, The Irish Times has established.

He also plans to allow banks to provide executives with non-pay benefits, such as subsidised healthcare, which has effectively been banned since the financial crisis. The three surviving banks, AIB, Bank of Ireland and Permanent TSB, employ more than 20,000 combined.

The surprise development is on foot of a recommendation in the Department of Finance’s long-awaited retail banking review report, which is set to go to the Cabinet tomorrow.

It comes as Mr Donohoe prepares to swap roles with current Minister for Public Expenditure Michael McGrath in less than three weeks. Performance-related bonus payments are likely to be limited as banks seek to avoid driving up costs.


I thought they were clear of BOI at this stage
I didn't know MMcG and PD were swapping as well?
 

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