Donohoe Says He Plans to Keep Irish Bank Bonus Cap in Place

Ireland’s Finance Minister ruled out scrapping a bonus tax imposed on the domestic Irish banks.

Last week Ireland fully exited its biggest domestic bank AIB Group Plc, with it, removing a crisis-era €500,000 ($573,130) salary cap. However, a punitive 89% tax on bonuses in excess of €20,000 imposed when the state bailed out the lender remains.