Since reckless gambling by the banks helped crash the economy in 2008, there has rightly been a limit on banker pay and bonuses. Fine Gael Finance Minister Paschal Donohoe wants to get rid of that.
He’s planning to let the banks that we bailed out pay €20,000 in bonuses. He wants to increase their pay cap to €500k – at a time when so many people are struggling to put food on the table!
The banks we bailed out – AIB, Bank of Ireland and Permanent TSB – have all spent the last year raising interest rates on mortgages. This has caused further financial hardship for ordinary people during this cost of living crisis.
But Donohoe thinks bankers deserve a nice pay day. This shouldn’t surprise anyone, of course.
Fine Gael encourage vulture funds and corporate landlords to profit from housing misery. They let energy companies away with profiteering on our heating costs. They let multinationals build data centre after data centre.
Paschal Donohoe is just making sure Irish bankers are getting the same cushy treatment. Because Fine Gael always look after the rich.