Carillion
IBOA – The Finance Union backs national pay deal
Issued : 14 November 2008
Members of IBOA - The Finance Union have voted in favour of proposals for a new national agreement between Government, trade unions and employers. This is the first time IBOA has voted to support a national wage agreement since the mid 1990s.
While the Union's Executive Committee had stopped short of formally recommending the proposals, it had advised its members that the proposed agreement was the best that could be achieved through negotiation and without recourse to industrial action.
Commenting on the outcome of the ballot, Union General Secretary, Larry Broderick, said:
"Although our members have many misgivings about both the pay and non-pay elements of the proposed deal - misgivings which the recent Budget has done nothing to allay - they nevertheless recognise that in the current economic circumstances - and in particular in light of the ongoing crisis in the financial services sector both globally and in Ireland, the prudent course is to accept the terms on offer.
"In the event that the proposals are ratified by the ICTU Special Delegate Conference on Monday next, we will seek the immediate implementation of the pay terms on behalf of all our members. With the previous pay agreement expiring for the majority of our members on July 31 last, the three-month pay pause contained in the current proposals has now elapsed. So the first phase increase of 3.5% would already be due with effect from November 1.
Mr. Broderick also warned against any opportunism by employers who "might try to use the present difficulties in the industry to force through staff cuts or claw back some of the improvements in the terms and conditions of employment which IBOA has secured for its members in recent years.
"We are concerned that hard pressed staff will be targeted by the leaders of Irish financial institutions who should themselves take responsibility for continuing to promote a flawed business model which has damaged profitability by incurring significant impairment losses.
"In addition to securing the pay terms contained in the national agreement, IBOA has also prioritised securing commitments from employers on job security, the protection of existing terms and conditions of employment - including pension provision - and a comprehensive review of all performance-related targets for staff in light of the dramatically changed economic circumstances."
