June 20th, 2023 - 7:37pm

Consumer Protection, Other News, Press Releases

June 21, 2023

NDP introduces plan to fight corporate greed, Masse calls on Trudeau and Poilievre to support

 OTTAWA – On Tuesday, Canada’s NDP introduced a plan to fight corporate greed and end outrageous CEO pay by taxing large companies that pay their top executives at least 50 times more than their median workers.

The NDP’s plan will recover hundreds of millions of dollars a year, require large companies to disclose their CEO-Worker pay ratio, and include regulations to prevent tax avoidance and the use of contractors to avoid paying this penalty.

Canadians have a Liberal government that stands with the ultra-rich, while the NDP stands with working Canadians,” said NDP MP Brian Masse (Windsor West). “Unchecked corporate greed is driving up the cost of everything and it’s impacting families’ bills. All while CEOs are getting massive pay and bonuses and Canadians suffer.”

Canadians were shocked when the media reported that Loblaw CEO, Galen Weston, was described as ‘underpaid’ while getting $11.79 million a year in salary – 431 times the average employee’s wage. And Galen Weston is not alone. Under this Liberal government, CEOs are making all-time high revenues. Yet Justin Trudeau and Pierre Poilievre have repeatedly voted against making CEOs and big corporations pay what they owe.

“What the NDP will do differently is tackle the corporate greed that takes advantage of Canadian workers. Both Trudeau and Poilievre should support this motion to show what side they really stand with, ” said Masse. “It shouldn’t be left up to the CEOs and the billionaire class to make the rules. Unlike the Liberals and Conservatives, New Democrats believe we should have a government that works for you, for once.”