Wynne allows millions in CEO salaries while young people’s precarious earnings decline: NDP
Catherine Fife, the Ontario NDP’s employment critic, blasted Premier Kathleen Wynne for her callous decision to allow multi-million dollar salaries for some of the province’s executives, when a new report shows that earnings have gone down for young people in Ontario who are facing the second worst economy in the country.
“The CEO of OPG earned more than $2 million in total compensation last year – not the $1.2-million that was stated in the Sunshine List,” Fife said. “This government allowed the CEO to walk away with over $2 million in salary, bonuses, pension money, and $40,000 of ‘other pay’.
“$40,000 a year is what many young people in this province hope to earn.
“How can this premier justify these executive salaries to the struggling young people of this province?”
A new report released today by Generation Squeeze, as part of their Code Red campaign, shows that Ontario has the second-worst economy for young people in the country, and that no other province reported a decline in full-time earnings since 2003, except Ontario.
“These high salaries, bonuses, and pension perks are indefensible. Does the premier understand that a whole generation in this province is struggling with part-time, contract and precarious work?
“They are not getting ahead – they are barely treading water,” Fife said. “Young people in this province are struggling with exorbitant hydro rates, rising rents, and unstable work, all while the province’s top executives receive millions in compensation.
“Why does this government prioritize executive compensation over affordability for Ontarians?”