Department of Finance said caps on banker pay and bonuses will be raised as the state’s shareholding in AIB continues to reduce – TheStory.ie

Department of Finance said caps on banker pay and bonuses will be raised as the state’s shareholding in AIB continues to reduce – TheStory.ie

Finance Minister Paschal Donohoe was told a discussion on pay caps and the “super-tax” on bonuses at AIB is likely to rear its head as the state’s share in the bank approaches zero. In a submission on the latest sale of the government stake in the bank, officials said there was no legal requirement to change the compensation cap as long as the state remained a shareholder. It said a further disposal of shares could take place before a conversati…