Earlier this week minister of state at the Department of Finance Michael D'Arcy told The Financial Times that banking pay restrictions should remain in place - in spite of pressure from the banking industry to loosen them. AIB, Bank of Ireland and Permanent TSB are currently subject to a €500,000 salary cap, while a punitive 89% tax rate applies to any bonuses paid. Should the restrictions stay or go? Ciarán talks to Brian Hayes, former Fine Gael TD and MEP who is now CEO of the Banking and Payments Federation Ireland, and then by Pearse Doherty, Sinn Fein TD and finance spokesperson, for two different views on the issue. Plus, Peter Hamilton has all the latest business news including more pay disputes at Ryanair, how the markets are reaction to Boris Johnson's election as Tory party leader and struggling state agencies.

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