Banking inquiry staff received over €1.8m in 2015

Twenty staff working with the Oireachtas banking inquiry earned in excess of €1.8 million in salary and expenses this year, documents released under the Freedom of Information Act show.

The investigation team had salary and expenses costs of €1,850,498 from December 1st 2014 to December 1st this year – a sum that does not include the 11 legal representatives that worked with the committee for the past year, the records show.

The investigation team have worked with the committee for more than a year and were tasked with compiling a final report by the inquiry.

Not fit for purpose

However, the 750-page document was described as not fit for purpose by the members of the committee and the TDs and Senators were forced to rewrite the report.

The records released under the FOI Act do not list the salary levels of each employee because they “contain personal information”.

However, it says the salaries range from the level of a High Court judge at €172,210 to a deputy secretary at €161,552.

Some are paid the same as a Circuit Court Judge at €131,373 while the lowest a person is paid is that of a principal officer at €87,258.

The inquiry also spent €10,932 accommodating some of the witnesses. The bill for former International Monetary Fund economist Ajai Chopra reached €1,811.67.

Considering submissions

Canadian financial expert

Rob Wright

cost the inquiry €3,931.14 for his appearance before the committee. The inquiry meets again tomorrow to consider submissions received from various interested parties.

The final report was issued to more than 80 people who are asked to submit their responses to its contents. The committee will then consider whether to accept their requests or to allow for its publication.

All committee decisions must be made on December 31st to allow for its publication on January 27th.