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Quango chief's pay higher than PM NI quango chief paid more than PM
(about 2 hours later)
The chief executive of a Northern Ireland quango has received a salary of more than £213,000 - almost £26,000 higher than the prime minister.The chief executive of a Northern Ireland quango has received a salary of more than £213,000 - almost £26,000 higher than the prime minister.
David Gavaghan also received £34,287 in national insurance and £15,213 in pension contributions as head of the Strategic Investment Board (SIB).David Gavaghan also received £34,287 in national insurance and £15,213 in pension contributions as head of the Strategic Investment Board (SIB).
On top of his basic salary of £152,131, Mr Gavaghan, 47, was given a bonus of £61,206. His £152,131 salary and £61,206 bonus was defended by the Office of the First and Deputy First Minister.
SIB is charged with delivering investment strategy for NI.SIB is charged with delivering investment strategy for NI.
The limited company is "owned" by the Office of the First Minister and Deputy First Minister. The limited company is "owned" by the Office of the First Minister and Deputy First Minister (OFDFM).
It reports to the Department of Finance and is heavily involved in Private Finance Initiative projects in education, roads and water.It reports to the Department of Finance and is heavily involved in Private Finance Initiative projects in education, roads and water.
'Applauded the role''Applauded the role'
Details of the chief executive's salary were revealed in the SIB's annual report and accounts for 2006/07.Details of the chief executive's salary were revealed in the SIB's annual report and accounts for 2006/07.
It is understood his pay scale is set by a renumeration committee. In a statement to the BBC, an OFDFM spokesman said SIB needed to attract high calibre, private sector staff with specialist skills.
"It was therefore necessary to offer competitive salaries. The chief executive's salary and bonus is determined by SIB's remuneration committee, which comprises independent, non-executive directors," he said.
"The chief executive has a vital role in driving forward the £16bn investment strategy for Northern Ireland and his remuneration is set accordingly."
In his introduction to the annual report, Mr Gavaghan said a major priority for the SIB was to assist the NI Executive in publishing the next 10-year investment strategy to 2018.In his introduction to the annual report, Mr Gavaghan said a major priority for the SIB was to assist the NI Executive in publishing the next 10-year investment strategy to 2018.
In their foreword, First Minister Ian Paisley and Deputy First Minister Martin McGuinness said they applauded the role of the board in delivering an investment strategy.In their foreword, First Minister Ian Paisley and Deputy First Minister Martin McGuinness said they applauded the role of the board in delivering an investment strategy.
The SIB was helping the executive and government departments deliver necessary programmes for a modern competitive economy, they said.The SIB was helping the executive and government departments deliver necessary programmes for a modern competitive economy, they said.
No-one from the Strategic Investment Board was available for comment on Friday.No-one from the Strategic Investment Board was available for comment on Friday.