Not all Canadians suffered the effects of lockdowns equally. Bank of Canada employees had to suffer through pay raises and bonuses equaling $45 million in 2020 and 2021! Well deserved given that their mandate, as defined in the Bank of Canada Act “is to promote the economic and financial welfare of Canada.”
And it’s not just the Bank of Canada where this is happening. Government bureaucrats received $171 million in bonuses during the pandemic while regular Canadians were locked out of their businesses or forced into unemployment.
The Canadian Mortgage and Housing Corporation, whose mandate is “to make housing affordable for everyone in Canada,” gave its employees $48 million in bonuses while inflation drove housing costs up to record levels.
“I can’t believe I have to say this, but bonuses and pay raises are for when you do a good job!” -Franco Terrazzano
Franco Terrazzano joins us from the Canadian Taxpayers Federation to discuss how out of touch crown corporations and federal bureaucracies are with average Canadians.
Episode #21 with Franco Terrazzano