Opinion Analysis

Friday 15 December 2017

Numbers don't add up inside our bailed-out banks

Why are executives at lenders who gorged €64bn of public money on fat-cat wages? asks Daniel McConnell

Last Friday, following a week of outrage over excessive salaries and pensions in the banks, Transport Minister Leo Varadkar on Morning Ireland made a most extraordinary statement: "People who are on high pay and who are on high pensions, who are not paid directly by the State, pay very high taxes, and if those pensions and high pay are cut that will mean less income taxes coming in and would mean they would have to be passed on in the form of higher taxes for others."

In other words, go away little people and stop making life difficult for Michael Noonan and the rest of us -- and be careful what you wish for.

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