Retiring ministers in line of fire

CABINET ministers are under fire for opting to keep lucrative parachute payments designed for resigning ministers despite running for seats in the next Dáil.

Finance Minister Brian Lenihan said he was not aware that his severance deal will hit €88,000, but that it was an established part of pay of office holders. He said when tax and the Universal Social Charge were taken into account it would be a lot less.

“In fact it is fully subject to income tax so in my case it will be about half that,” he said.