The Government should cap all salaries

IT has been reported that Finance Minister Michael Noonan rejected calls from the Financial Regulator and senior bankers to lift salaries for executives at rescued banks to more than 500,000 per annum, thus removing the cap on salaries in the banking sector.

Well done, Mr Noonan. The only thing I like to know is why on earth is the Government allowing anyone to receive a salary of 500,000 per annum when many people can’t pay the bills and others struggle provide the basic necessities for their families? It has been suggested that, during this recession, the Government should create a cap on all salaries of 80,000 per annum.

I disagree. I think the cap should be set at 70,000 per annum until this recession is over. Surely, this amount is sufficient for anyone to live a reasonably good life on.

If it were done via progressive taxation, it would also serve to spread wealth where it is most needed. Why not have a national vote on this?

Brian Abbott

Bishopstown Road

Cork