Salary Freeze On For Crown Corporation Execs
Prince George, BC – As part of a new policy on executive compensation in Crown corporations, the provincial government has announced an immediate freeze on the compensation of all current executives.
In addition, the Finance Ministry says bonuses will be phased out and replaced with a non-pensionable holdback of up to 20-percent, tied to financial and business results. And new senior executives will be recruited at a salary 10-percent less than the incumbent.
The government disclosed the new policy yesterday during its annual release of documents detailing total compensation for senior public sector executives, saying it aims to attract and retain skilled leadership, but at an affordable cost to taxpayers and ratepayers.
The policy flows directly from a review of all Crown corporation announced during the 2012 budget. The Finance Ministry says the review found management staffing in government fell seven-percent between 2009 and 2011 and compensation costs fell by one-percent, while management staffing in Crown corporations increased by seven-percent and compensation costs increased by 16-percent.
The ministry says many crown corporations already meet some or most of the new policy requirements, but says, where they do not, boards must provide plans by January 1st of next year showing how they plan to comply.
Comments
Election coming up.
Change of government coming up. These are government appointment positions. Wouldn’t want an ndp appointee making the same as a liberal appointee lol. I guess this is the kind of transparency we can expect from the BC liberals.
I’d slash 50% of anything over $80,000 a year for starters.
Eagle does that apply to private sector also?
Wouldn’t want an NDP appointee. Period.
What MP’s do is an incredible amount of work and sacrifice, no matter which party it is. This is especially true for nothern MP’s who would obvoisly have to spend a lot of time traveling and being away from loved ones. If we want the best we have to pay people enough to make it worth while, especially if their previous job payed more. I’m not saying to go crazy with salary increases, I just think they get a lot of greif for all the work they are doing for their constituents.
Why would it apply to the private sector… they can pay what they can afford if they can afford to pay more its their money.
The public sector shouldn’t be paying managers 6-figure incomes IMO.
Ya right, where did you dream that up.
This dose not apply to MLA’s this applys to exective positions. MLA’s have their own system of fleesing the taxpayer./
Cheers
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