Sunday August 31, 2014

Province moves to cap executive pay and freeze pay for public sector jobs

Ontario is proposing an executive compensation cap, at no more than twice the Premier’s annual salary of C$418,000, and a two-year pay freeze for managers.

Canada’s Bay Today has learned that “Ontario is proposing to cap compensation for its executives and put in place a two-year pay freeze for managers who are eligible for performance pay.” Under the plan, executive pay would be permanently capped at no more than twice the Premier’s annual salary, which is currently C$418,000. Public sector managers, meanwhile, would not earn any more money for the next two years than they did in 2011. According to the publication, “These measures are being introduced because the government believes everyone has to do their share to help eliminate the deficit.”

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