FF: Curtail senior-banker bonuses for five years
Fianna Fáil wants all bonuses to senior bankers curtailed for five years, and then to only be paid if that person was not involved in losses for the bank.
The party has published legislation which it says "would be one small step in changing the rotten culture in banking".
The Bankers Bonuses Bill (Credit Institutions Employee Deferral of Bonuses Bill 2012) would restrict bonuses of over €1,000 paid to bank employees on basic salaries of over €60,000 a year.
Under the plan, any bonus of more than €1,000 to be paid to senior staff would have to be lodged into an interest-bearing account for a period of five years.
Fianna Fáil's Willie O'Dea said the previous Fianna Fáil-led Government was "the first Government to move to control the amount of money paid to bank executives.
"Certainly a culture had prevailed for many, many years in the country, as in many other western countries such as the United Kingdom…It is now apparent that something has to be done to control that."
