There are 2 related points.
 Irish Barristers are generally overpaid. After 10 years the average earnings at the Irish bar are significantly higher than in the UK.
HOWEVER a salary cap is nonsense.
Look outside this jurisdiction at the Ardagh Glass case in the UK. Ardagh glass is seeking to force quinn to destroy a glass recycling facility worth hundreds of millions. If there were 4 barristers a side the skill and guile of the one barrister was more than another and Quinn spent 1 million on barristers fees for 2 months work and won wouldn't that still be money well spent?