Thursday 14 December 2017

Fat cats must be aware nation watches who laps all the cream

THE National Treasury Management Agency (NTMA) performs a valuable role for the country. It raises the money that pays for the State to function. The Government has to raise about €20bn a year to pay for the likes of hospitals, the civil service and other essential services, and it is the NTMA's job to source much of that money from international investors. In short it is a vital state agency.

Even so, people will find it incredibly galling to read that the head of the agency, John Corrigan – who earns €416,500 a year – pleaded with Finance Minister Michael Noonan to spare his staff from pay cuts as a result of the Haddington Road Agreement on state pay.

Mr Corrigan's point may have been valid – that his staff would not be eligible to have their cuts restored in three years' time like the rest of the public service – but that will be of little interest to hard working people struggling to make ends meet.

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