The Tánaiste and Minister for Justice, Michael McDowell, has signed a new agreement with the banking industry concerning costs to gardaí providing cash escorts.
The agreement, which will see close to full recovery of the costs of escorts, will be signed by the Tánaiste, the Garda Commissioner Noel Conroy and Paul O'Connor of the Irish Banking Federation at Garda Headquarters in Phoenix Park.
The previous arrangement saw the annual contribution by the banks of a flat payment towards garda cash escort costs, regardless of expenditure.
In the light of rising costs and the profitability of the banking industry, it was decided that a formal agreement linking the contribution of the banks to the total costs incurred in a given year was required.
The new Memorandum of Understanding provides for the calculation of the costs of escorts on the basis of a number of factors, including pay and allowances, subsistence, overtime, fuel and transport costs.
It further defines details of the precise costing methodology to be employed by the gardaí in calculating the cost of providing escorts.
It also sets out the banking industry's obligations in relation to making payment for escorts.
