Semi-state bosses should take big pay cut, says FF TD
SEMI-STATE bosses should be forced to take "significant reductions" in their salaries because of pressure on the public finances, a Fianna Fail TD claimed yesterday.
Chris Andrews said it was "not acceptable" that ESB boss Padraig McManus should receive an annual salary of €750,000, more than three times that of the Taoiseach, at a time when customers faced higher bills and the company was making €580m a year in profit.
The Dublin South East TD was speaking after it emerged that householders will be forced to pay higher electricity bills from October to help fund the production of 'greener' power.
The Commission for Energy Regulation has ordered suppliers, including the ESB and Bord Gais, to levy customers with an annual charge which will be used to subsidise the cost of generating power from wind energy and peat.
And it will result in householders paying an extra €32.76 a year on their bills, while small and medium-sized businesses will be hit with a €99.03 charge.
The electricity levy has been sharply criticised because the main beneficiary will be the ESB which recorded profits of €580m last year.
Yesterday, the Irish Independent also revealed that families would soon pay more than €500 a year in green taxes which include the electricity levy, water charges, carbon taxes on petrol and diesel amounting to €275 a year and €55 on tax paid for home heating oil.
Mr Andrews said that Mr McManus' 2009 pay pack of €750,000 was not acceptable in the current economic climate, and that it should be reduced to €250,000.
"Certainly €750,000 isn't acceptable in my estimation given the current difficulties we're going through," he told Newstalk radio. "Personally I can't see why anybody can't work for €250,000 a year."
"But we also have to be conscious of the fact that we're in a globalised world, people can move to London, they can move to Brussels, and they can get significantly more and we have to be conscious of that when we're reducing wages because we'll end up with the worst of both worlds," he added.