NDP

Urgent action needed to improve average wages as Canadian CEOs collect record high salaries

January 3, 2017


For immediate release.

HALIFAX – NDP Leader Gary Burrill says urgent action is needed to address income inequality. According to a report released this morning, the 100 highest-paid CEOs in Canada made more money by noon today than the average Canadian will earn in an entire year.

“CEO salaries are out of control. It is unacceptable that the CEO of Emera collects $4.3 million, while working people struggle to heat their homes and put food on the table,” said Burrill. “While average families are being asked to make do with less, the richest Canadians are being paid more than ever before.”

Throwing Money at the Problem: 10 Years of Executive Compensation, released by the Canadian Centre for Policy Alternatives, found that the average income of the 100 highest-paid CEOs in Canada was $9.5 million, while the average income for Canadians is $49,510.

The Nova Scotia NDP has a plan to reduce inequality: raise the wages of more than 130,000 people in Nova Scotia by increasing the minimum wage to $15 an hour over three years. The NDP plan would also eliminate tuition fees at the Nova Scotia Community College to ensure that young people have the skills and training they need to find good jobs close to home.

“Instead of taking real action to ensure that regular people can make ends meet, Stephen McNeil has given millions of dollars to banks and corporations,” said Burrill. “We need a government that will focus on improving the incomes and skills of everyday people, not one willing to allow some people to prosper while the rest flounder.”

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For more information, contact Kaley Kennedy at 902-229-6881 or kaley.kennedy@novascotia.ca.