Taoiseach defends easing of limits on bankers’ pay and bonuses

Bailed-out lenders will be able to pay out bonuses of €20,000, while the government is moving to lift the €500,000 pay cap on senior officials at retail banks

Paschal Donohoe: the Finance Minister this morning brought a proposal to ease pay rules at retail banks. Picture: Julien Behal

Taoiseach Micheál Martin has defended the decision to allow the return of bonuses up to €20,000 in the bailed-out banks despite criticism that it is a “kick in the teeth” for ordinary people.

The cabinet’s approval of the lifting of the €500,000 pay cap in Bank of Ireland, which no longer has any state shareholding, also came in for criticism from opposition parties.

Mary Lou McDonald, the Sinn Féin leader, said that the move on ...