Appleby withdraws retirement application

The Government has been forced to break the rules of its early retirement scheme in order to save the inquiry into Anglo Irish Bank from a major setback.

Paul Appleby, the director of corporate enforcement, who is heading up the inquiry, last night agreed to withdraw his application to retire by the end of February.

He will stay on until the end of August after being offered a sweetener by the Coalition, which will see him exempt from new pension arrangements coming into effect at the end of this month.