Bank of Ireland chief's pay 'obscene', says Whelan

SEANAD REPORT:IT WAS hard to convince people to pay the household charge when they saw what was being paid to a leading banker, a Government member said. Michael Mullins (FG) said he supported the comments of John Whelan (Lab) about the level of payment to the chief executive of Bank of Ireland.

It was incumbent on parliamentarians to investigate the remuneration packages of all higher-paid civil servants, heads of semi-States and those at the top of banking organisations. Where had the salary cap gone, he wondered.

Why was the head of a banking organisation that cost this country so dearly being paid four times what the Taoiseach received? Mr Whelan said it was absurd and obscene that the chief executive had drawn down more than €830,000 at a time when the country was in recession. “I cannot understand how the Minister for Finance, the Taoiseach and the Tánaiste have allowed this to happen. They have to stand up to the banks. This bank would not be in existence if it were not for the taxpayer.”

When Mr Whelan asked if Richie Boucher was so talented as to merit this kind of money, Cathaoirleach Paddy Burke said there should be no reference to persons who were not able to defend themselves in the chamber.

David Norris (Ind) suggested that the forbidden name be shortened to “Rich.” Accepting this as an excellent idea, Mr Whelan said he thought it was very rich that they were calling on pensioners, widowers, unemployed persons and people in mortgage arrears to pay the household charge – which he supported – while the public were wondering if lawmakers were helpless to prevent this kind of “salary” draw-down in banks.

Querying what had happened to the salary cap, he said the Government had a moral responsibility in this regard. The Minister for Finance should come to the House and explain what the Government intended to do on this matter.

Seanad leader Maurice Cummins (FG) said that, though it had been claimed that just 15 per cent of those liable had paid the household charge, he was convinced a majority would adhere to the law of the land. He took umbrage at the advocacy of some legislators that the law should be broken.David Cullinane (SF) contended that the tax was recognised as being unfair because 85 per cent of people were still refusing to pay.