Two stories in today’s papers caught my eye; here are some extracts:
JUDGES’ PAY PROPOSED AMENDMENTS
THE GOVERNMENT is proposing that Article 35.5 of the Constitution be amended by substituting the following:
“35.5.1 The remuneration of judges shall not be reduced during their continuance in office save in accordance with this section.
35.5.2 The remuneration of judges is subject to the imposition of taxes, levies or other charges that are imposed by law on persons generally or persons belonging to a particular class.
35.5.3 Where, before or after the enactment into law of this section, reductions have been or are made by law to the remuneration of persons belonging to classes of persons whose remuneration is paid out of public money and such law states that those reductions are in the public interest, provision may also be made by law to make reductions to the remuneration of judges.”
SENIOR JUDGES FACING RUIN FROM POOR INVESTMENTS
A NUMBER of senior judges who suffered huge losses from ill-fated property investments and a meltdown in bank shares face financial ruin, the Irish Independent has learned.
Financial experts have advised up to 10 members of the judiciary that they will not be able to meet their financial commitments.
Informed sources said the judges were warned by financial experts that they will not be able to continue servicing their loans — many of which are linked to multi-million euro property investments — owing to the combined impact of pending pay and pension cuts.
The judges sought the expert financial and legal advice after the Government announced details of caps on public-sector pensions and plans to hold a referendum on judges’ pay.