AIB wants to pay top execs more than half a million – Sinn Féin says 'No!'

AIB bank’s weekend plea to the Fine Gael/Labour Government to set aside its half-a-million salary ceiling for bank chiefs should be rejected outright, Sinn Féin leader Gerry Adams TD told the Taoiseach in the Dáil on Tuesday.

Enda Kenny said he wants to hear from Finance Minister Michael Noonan his view on the case being put forward by AIB.

The Sinn Féin president said:

The AIB has a cheek to ask for this obscene amount of money.

This is unacceptable and the Government must tell AIB that under no circumstances will the Government allow this.

In response to the economic crisis and in particular the disastrous role played by the banks, a half-a-million cap was placed on senior bankers’ pay. Sinn Féin was among the leading voices arguing for a lower rate given the plight of the vast majority of people.

Gerry Adams said:

The fact is that at this time there are almost half a million citizens unemployed. Successive budgets have hit those on low and middle incomes hardest. The December budget will impose more savage cuts.

Contrary to the Government spin that it will not increase income tax or introduce cuts to social welfare, the fact is that the policies of the Government are taking more and more money from wage packets in stealth taxes.

People are still deeply frustrated and angry at the economic mess created by the bad policies of the previous government, this government and the golden circle of bankers and developers.

The Government must reject any effort by AIB to allow it to employ a CEO above the half-a-million cap.