€200,000 pay cap stifled hiring of finance chief

The search for a new head of the Department of Finance was frustrated by a salary cap and saw several candidates apply for the position with salaries well over the amount offered.

A pay cap of €200,000 for the position was an “obstacle” to finding an appropriate candidate.

Finance Minister Michael Noonan was told of problems in searching for a new department chief but also of how EU and IMF lenders were pleased that the hunt for candidates reached outside Ireland.