Fine Gael demands emergency legislation to tax €40m bankers' bonuses
Fine Gael has today proposed that the Government use emergency legislation going through the Dáil tomorrow to tax bankers bonuses at a 99% rate.
It has emerged that €40m is to be paid out to AIB executives as the bank is about to be effectively nationalised in a taxpayer bailout.
AIB has decided that 2,400 bank staff must be given their bonuses, after several of them took legal action.
It has been raised in the Dáil which is about to pass the Social Welfare Bill that will slash welfare payments by €8 a week.
Fine Gael's Deputy leader Dr James Reilly angrily demanded that emergency financial legislation could be used tomorrow to prevent the taxpayer funding the AIB bonuses.
“Stop using the law of the land to protect them,” he said.
“Use the law of the land to sort them out. I have a proposal for the Minister. Tax the bonuses in your emergency Act tomorrow, at 99%, and give people some leadership!”
Labour leader Eamon Gilmore says the welfare cuts for carers will be more than the bonus, while the emergency finance legislation tomorrow is also cutting the minimum wage
“Somebody working 40 hours a week at the new national minimum wage will be getting less than the average bonus being paid to AIB executives,” said Mr Gilmore.
But the Government says its hands are tied on bonus payouts that were in people's contracts.
