No plan for bankers' 'pay tsar': Burton

The Government has shot down a request by the AIB executive chairman for the appointment of an independent assessor to set bankers' wages.

Speaking at the MacGill Summer School yesterday, David Hodgkinson called for the appointment of a 'pay tsar' to set pay rates.

He warned that Ireland's pillar banks may struggle to get qualified people to run them if the government pay cap of €500,000 remains in place.

Social Protection Minister Joan Burton said there were no plans to appoint an independent assessor to set bankers' pay.

"I think that bankers have to be very mindful of the difficult economic times we are living in, and everyone has to take a share of the difficulty," she said.