88. Deputy Maureen O'Sullivan asked the Minister for Finance the reason he intends targeting rank-and-file bank workers' pay and not senior management with disproportionately high salaries and in receipt of bonuses; the way he justifies the workers' cuts if the Mercer report suggests these cuts would only yield savings of €70 million across all three remaining State-supported institutions while AIB reports a €1.2 billion loss for the first half of 2012, Permanent TSB reporting a loss of €500 million for the first half of 2012, and Bank of Ireland reporting preliminary annual losses for 2012 of €1.8 billion; if his attention has been drawn to the fact that the cuts would have little effect on profitability; and if he will make a statement on the matter. [14555/13]

Summary

88. Deputy Maureen O'Sullivan asked the Minister for Finance the reason he intends targeting rank-and-file bank workers' pay and not senior management with disproportionately high salaries and in receipt of bonuses; the way he justifies the workers' cuts if the Mercer report suggests these cuts would only yield savings of €70 million across all three remaining State-supported institutions while AIB reports a €1.2 billion loss for the first half of 2012, Permanent TSB reporting a loss of €500 million for the first half of 2012, and Bank of Ireland reporting preliminary annual losses for 2012 of €1.8 billion; if his attention has been drawn to the fact that the cuts would have little effect on profitability; and if he will make a statement on the matter. [14555/13]

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• Banking Sector Remuneration

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