News
Canada's top 100 CEOs have already earned more than average Canadian will all year – CBC.ca
By 10:09 a.m. on January 2nd, Canada’s highest paid CEOs had made as much money as the average Canadian will earn all year, according to a new report.
In its annual report on CEO compensation, the Canadian Centre for Policy Alternatives (CCPA) found the gap between CEO compensation and average worker salary “growing larger and more difficult to rationalize.” The 100 highest paid chief executives earned an average of 227 times more than the average worker in 2018, the most recent time period for which data is available.
The average individual income in Canada was $52,061 in 2018, but each of the top 100 CEOs on the S&P/TSX Composite Index earned an average of $11.8 million. That beat the previous record for top executive salary, which averaged $10.4 million in 2016.
“Just a decade ago you’d have to wait until after lunch [on Jan. 2] before they’d made your salary,” said David Macdonald, senior economist with the CCPA, a non-profit think-tank that focuses on issues including social justice and economic equality.
“The trend is pretty clear that there is no stopping CEO pay increases, and there doesn’t seem to be any indication also on the other side that worker pay is going to start going up somehow much more rapidly than inflation.”
CEO compensation continues to grow exponentially faster than average pay. While the average Canadian worker saw their pay rise 2.6 per cent between 2017 and 2018, keeping just ahead of inflation, top CEOs received an 18 per cent pay boost in that same time period.
Over the course of a decade, the report found that average-income workers saw their pay grow 24 per cent between 2008 and 2018. But during that same 10 years, Canada’s top 100 CEOs got a 61 per cent raise.
Are sky-high salaries needed to retain CEOs?
Those in favour of CEO pay increases often say the big pay bumps are required to keep CEOs from fleeing to greener pastures.
But the CCPA found there doesn’t seem to be much poaching happening in C-suites here. The report said 76 per cent of the top 100 CEOs were promoted internally, not recruited into their roles. They’ve spent an average of 18 years with their current company, said Macdonald.
“They don’t flit about from company to company…. They understand the companies they work for, the industry, their competitors, the products that they sell, and that’s what makes them suitable for the CEO chair. It’s not just because they happened to have been a CEO someplace else.”
It’s actually quite difficult even for shareholders within companies to restrict CEO pay.– David Macdonald, senior economist, CCPA
If that’s the case, who is signing off on these big pay bumps?
A small circle near the top, said Macdonald.
“It’s actually quite difficult even for shareholders within companies to restrict CEO pay,” he said. “Oftentimes there’s quite a tight relationship between the CEO, the board of directors for the company, the consultant that comes in to recommend what the CEO should make. These folks all know each other.”
Possible policy changes
Some of the biggest bucks in CEO compensation come in the form of stocks and stock options.
Macdonald said this means that astronomical executive pay is subsidized through the tax system, which taxes these earnings at a much lower rate. That’s because both stock options and the stocks themselves are subject to tax loopholes that average workers can’t access, he said.
Although changes to tax law have been promised since 2015, Macdonald said he’s optimistic there will be changes to loopholes in 2020. Federal liberals made a 2019 election campaign promise to curb or close these loopholes, and based on information shared in the fall fiscal update, seem poised to make good in the spring budget, said Macdonald.
“It’s booked into the fiscal framework now, so it is something they will either have to go through with or pretty explicitly back down from.”
News
Ontario Legislature keffiyeh ban remains in place – CBC.ca
Keffiyehs remain banned in the Ontario Legislature after a unanimous consent motion that would have allowed the scarf to be worn failed to pass at Queen’s Park Thursday.
That vote, brought forth by NDP Leader Marit Stiles, failed despite Premier Doug Ford and the leaders of the province’s opposition parties all stating they want to see the ban overturned. Complete agreement from all MPPs is required for a motion like this to pass, and there were a smattering of “nos” after it was read into the record.
In an email on Wednesday, Speaker Ted Arnott said the legislature has previously restricted the wearing of clothing that is intended to make an “overt political statement” because it upholds a “standard practice of decorum.”
“The Speaker cannot be aware of the meaning of every symbol or pattern but when items are drawn to my attention, there is a responsibility to respond. After extensive research, I concluded that the wearing of keffiyehs at the present time in our Assembly is intended to be a political statement. So, as Speaker, I cannot authorize the wearing of keffiyehs based on our longstanding conventions,” Arnott said in an email.
Speaking at Queen’s Park Thursday, Arnott said he would reconsider the ban with unanimous consent from MPPs.
“If the house believes that the wearing of the keffiyeh in this house, at the present time, is not a political statement, I would certainly and unequivocally accept the express will of the house with no ifs, ands or buts,” he said.
Keffiyehs are a commonly worn scarf among Arabs, but hold special significance to Palestinian people. They have been a frequent sight among pro-Palestinian protesters calling for an end to the violence in Gaza as the Israel-Hamas war continues.
Premier calls for reversal
Ford said Thursday he’s hopeful Arnott will reverse the ban, but he didn’t say if he would instruct his caucus to support the NDP’s motion.
In a statement issued Wednesday, Ford said the decision was made by the speaker and nobody else.
“I do not support his decision as it needlessly divides the people of our province. I call on the speaker to reverse his decision immediately,” Ford said.
PC Party MPP Robin Martin, who represents Eglinton–Lawrence, voted against the unanimous consent motion Thursday and told reporters she believes the speaker’s initial ruling was the correct one.
“We have to follow the rules of the legislature, otherwise we politicize the entire debate inside the legislature, and that’s not what it’s about. What it’s about is we come there and use our words to persuade, not items of clothing.”
When asked if she had defied a directive from the premier, Martin said, “It has nothing to do with the premier, it’s a decision of the speaker of the legislative assembly.”
Stiles told reporters Thursday she’s happy Ford is on her side on this issue, but added she is disappointed the motion didn’t pass.
“The premier needs to talk to his people and make sure they do the right thing,” she said.
Stiles first urged Arnott to reconsider the ban in an April 12 letter. She said concerns over the directive first surfaced after being flagged by members of her staff, however they have gained prominence after Sarah Jama, Independent MPP for Hamilton Centre, posted about the issue on X, formerly Twitter.
Jama was removed from the NDP caucus for her social media comments on the Israel-Hamas war shortly after Oct. 7.
Jama has said she believes she was kicked out of the party because she called for a ceasefire in Gaza “too early” and because she called Israel an “apartheid state.”
Arnott told reporters Thursday that he began examining a ban on the Keffiyeh after one MPP made a complaint about another MPP, who he believes was Jama, who was wearing one.
Liberals also call for reversal
Ontario Liberal Leader Bonnie Crombie also called for a reversal of the ban on Wednesday night.
“Here in Ontario, we are home to a diverse group of people from so many backgrounds. This is a time when leaders should be looking for ways to bring people together, not to further divide us. I urge Speaker Arnott to immediately reconsider this move to ban the keffiyeh,” Crombie said.
Stiles said MPPs have worn kilts, kirpans, vyshyvankas and chubas in the legislature, saying such items of clothing not only have national and cultural associations, but have also been considered at times as “political symbols in need of suppression.”
She said Indigenous and non-Indigenous members have also dressed in traditional regalia and these items cannot be separated from their historical and political significance.
“The wearing of these important cultural and national clothing items in our Assembly is something we should be proud of. It is part of the story of who we are as a province,” she said.
“Palestinians are part of that story, and the keffiyeh is a traditional clothing item that is significant not only to them but to many members of Arab and Muslim communities. That includes members of my staff who have been asked to remove their keffiyehs in order to come to work. This is unacceptable.”
Stiles added that House of Commons and other provincial legislatures allow the wearing of keffiyehs in their chambers and the ban makes Ontario an “outlier.”
Suppression of cultural symbols part of genocide: MPP
Jama said on X that the ban is “unsurprising” but “nonetheless concerning” in a country that has a legacy of colonialism. “Part of committing genocide is the forceful suppression of cultural identity and cultural symbols,” she said in part.
“Seeing those in power in this country at all levels of government, from federal all the way down to school boards, aid Israel’s colonial regime with these tactics in the oppression of Palestinian people proves that reconciliation is nothing but a word when spoken by state powers,” she said.
Amira Elghawaby, Canada’s Special Representative on Combatting Islamophobia, said on X that it is “deeply ironic” on that keffiyehs were banned in the Ontario legislature on the 42nd anniversary of Canada’s Charter of Rights and Freedoms.
“This is wrong and dangerous as we have already seen violence and exclusion impact Canadians, including Muslims of Palestinian descent, who choose to wear this traditional Palestinian clothing,” Elghawaby said.
Arnott said the keffiyeh was not considered a “form of protest” in the legislature prior to statements and debates that happened in the House last fall.
“These items are not absolutes and are not judged in a vacuum,” he said.
News
New Peggys Cove bylaw brought in amidst complaints of unfairness – CBC.ca
Peggys Cove now has a new bylaw to guide development and protect the iconic fishing village’s heritage, but some say the process to create those rules was unfair.
After more than two years of consultation and five different drafts, this week the province approved a new land-use bylaw that will replace one from 2003.
It aims to preserve the “authentic, traditional fishing village” spirit of the cove, while allowing commercial uses where residents can benefit financially from the thousands of tourists who flock to see the area and lighthouse.
But Paul Paruch is one of many who have voiced concerns about conflicts of interest with the Peggy’s Cove Commission, which led the process with support from Upland Planning consultants.
“[I’m] very disappointed, let down,” Paruch said Thursday.
Paruch and his wife, Claire, had hoped to see their property zoned commercial, as Claire has run a hotdog stand there for years. The couple bought a home there with plans to retire and also rent it out, Paruch said, which would also not be allowed.
The new bylaw addresses everything from dwelling size to regulations on building materials. It also has turned many residential lots along Peggys Point Road into mixed-use “core” zoning that would allow for commercial, residential and community purposes.
Vendors and buskers are no longer allowed in the cove, unless they’re accessory to a special event.
Brian Cottam said the new bylaw is a major blow for him and his wife, Kelly Westhaver. Although an early draft of the bylaw zoned their land at 173 Peggys Point Road as commercial, that changed to residential after other residents voiced concerns about having that zoning so close to the lighthouse.
A sale of $1.3 million fell through on the land because a core designation was a condition of the purchase, Cottam said.
“This sale was going to allow us the ability to relax a little and enjoy life, but that has been stripped away,” he said in an email.
Bylaw ‘effectively expropriates’ private land: lawyer
Another property owner, Eleanor McCain, will be getting the commercial zoning she pushed for to allow for new businesses.
However, a lawyer for McCain did raise concerns about how the conservation zone was applied to the rocky waterfront side of her client’s land and many others in the cove. Nancy Rubin of Stewart McKelvey said in a letter to the commission the move “effectively expropriates” private land without any evidence of why it was needed or if it was based on any scientific studies.
Paruch, Cottam and McCain have argued the commission members who run their own commercial enterprises, or are connected to businesses in the cove, are in direct conflicts of interest. The commission is made up of residents, the sitting councillor and representatives from the province to make decisions on changes in the area.
Three commission members must be from the community, but where there’s about 40 permanent residents, it is hard to avoid friendships and family ties.
The Nova Scotia ombudsman’s office is investigating the commission following recent complaints. Both Paruch and Cottam said they had hoped this independent report would lead to the province rejecting the proposed bylaw.
But John Campbell, a lifelong cove resident and owner of the Sou’wester Restaurant in the village and other properties, said the bylaw strikes the right balance.
“I think overall it’s going to be a good thing, but you know when you go through a process like this, not everybody’s going to be happy,” Campbell said.
Campbell said he’s become an “easy target” for the arguments around conflicts of interest, as his daughter Nicole Campbell is commission chair. He said he didn’t get everything he wanted in the new bylaw, pointing out that his request for land to be zoned commercial near the lighthouse was refused.
Campbell agreed that something should change with the makeup of the commission to avoid conflicts in the future, but more analysis should be done on what the fairest approach is.
“It’s a very unique place, Peggys Cove, and you know it’s good to have discussions about it,” Campbell said. “It’s my community that I grew up in, and my closest friends are in, and you know I feel like I could make a living there.”
Economic Development Minister Susan Corkum-Greek said she has faith in the commission’s process, and nothing in the draft report from the ombudsman prevents her from approving the bylaw.
She said the province is also looking at modernizing the legislation governing the commission and the area.
“I think this is an important step, but … it is a first step,” Corkum-Greek told reporters Thursday.
The bylaw will see a new development officer appointed to handle permits and variance requests, while anyone who wants to change their zoning can apply to the commission.
News
Ontario Legislature keffiyeh ban remains, though Ford and opposition leaders ask for reversal – CBC.ca
Keffiyehs remain banned in the Ontario Legislature after a unanimous consent motion that would have allowed the scarf to be worn failed to pass at Queen’s Park Thursday.
That vote, brought forth by NDP Leader Marit Stiles, failed despite Premier Doug Ford and the leaders of the province’s opposition parties all stating they want to see the ban overturned. Complete agreement from all MPPs is required for a motion like this to pass, and there were a smattering of “nos” after it was read into the record.
In an email on Wednesday, Speaker Ted Arnott said the legislature has previously restricted the wearing of clothing that is intended to make an “overt political statement” because it upholds a “standard practice of decorum.”
“The Speaker cannot be aware of the meaning of every symbol or pattern but when items are drawn to my attention, there is a responsibility to respond. After extensive research, I concluded that the wearing of keffiyehs at the present time in our Assembly is intended to be a political statement. So, as Speaker, I cannot authorize the wearing of keffiyehs based on our longstanding conventions,” Arnott said in an email.
Speaking at Queen’s Park Thursday, Arnott said he would reconsider the ban with unanimous consent from MPPs.
“If the house believes that the wearing of the keffiyeh in this house, at the present time, is not a political statement, I would certainly and unequivocally accept the express will of the house with no ifs, ands or buts,” he said.
Keffiyehs are a commonly worn scarf among Arabs, but hold special significance to Palestinian people. They have been a frequent sight among pro-Palestinian protesters calling for an end to the violence in Gaza as the Israel-Hamas� war continues.
Premier calls for reversal
Ford said Thursday he’s hopeful Arnott will reverse the ban, but he didn’t say if he would instruct his caucus to support the NDP’s motion.
In a statement issued Wednesday, Ford said the decision was made by the speaker and nobody else.
“I do not support his decision as it needlessly divides the people of our province. I call on the speaker to reverse his decision immediately,” Ford said.
PC Party MPP Robin Martin, who represents Eglinton–Lawrence, voted against the unanimous consent motion Thursday and told reporters she believes the speaker’s initial ruling was the correct one.
“We have to follow the rules of the legislature, otherwise we politicize the entire debate inside the legislature, and that’s not what it’s about. What it’s about is we come there and use our words to persuade, not items of clothing.”
When asked if she had defied a directive from the premier, Martin said, “It has nothing to do with the premier, it’s a decision of the speaker of the legislative assembly.”
Stiles told reporters Thursday she’s happy Ford is on her side on this issue, but added she is disappointed the motion didn’t pass.
“The premier needs to talk to his people and make sure they do the right thing,” she said.
Stiles first urged Arnott to reconsider the ban in an April 12 letter. She said concerns over the directive first surfaced after being flagged by members of her staff, however they have gained prominence after Sarah Jama, Independent MPP for Hamilton Centre, posted about the issue on X, formerly Twitter.
Jama was removed from the NDP caucus for her social media comments on the Israel-Hamas war shortly after Oct. 7.
Jama has said she believes she was kicked out of the party because she called for a ceasefire in Gaza “too early” and because she called Israel an “apartheid state.”
Arnott told reporters Thursday that he began examining a ban on the Keffiyeh after one MPP made a complaint about another MPP, who he believes was Jama, who was wearing one.
Liberals also call for reversal
Ontario Liberal Leader Bonnie Crombie also called for a reversal of the ban on Wednesday night.
“Here in Ontario, we are home to a diverse group of people from so many backgrounds. This is a time when leaders should be looking for ways to bring people together, not to further divide us. I urge Speaker Arnott to immediately reconsider this move to ban the keffiyeh,” Crombie said.
Stiles said MPPs have worn kilts, kirpans, vyshyvankas and chubas in the legislature, saying such items of clothing not only have national and cultural associations, but have also been considered at times as “political symbols in need of suppression.”
She said Indigenous and non-Indigenous members have also dressed in traditional regalia and these items cannot be separated from their historical and political significance.
“The wearing of these important cultural and national clothing items in our Assembly is something we should be proud of. It is part of the story of who we are as a province,” she said.
“Palestinians are part of that story, and the keffiyeh is a traditional clothing item that is significant not only to them but to many members of Arab and Muslim communities. That includes members of my staff who have been asked to remove their keffiyehs in order to come to work. This is unacceptable.”
Stiles added that House of Commons and other provincial legislatures allow the wearing of keffiyehs in their chambers and the ban makes Ontario an “outlier.”
Suppression of cultural symbols part of genocide: MPP
Jama said on X that the ban is “unsurprising” but “nonetheless concerning” in a country that has a legacy of colonialism. “Part of committing genocide is the forceful suppression of cultural identity and cultural symbols,” she said in part.
“Seeing those in power in this country at all levels of government, from federal all the way down to school boards, aid Israel’s colonial regime with these tactics in the oppression of Palestinian people proves that reconciliation is nothing but a word when spoken by state powers,” she said.
Amira Elghawaby, Canada’s Special Representative on Combatting Islamophobia, said on X that it is “deeply ironic” on that keffiyehs were banned in the Ontario legislature on the 42nd anniversary of Canada’s Charter of Rights and Freedoms.
“This is wrong and dangerous as we have already seen violence and exclusion impact Canadians, including Muslims of Palestinian descent, who choose to wear this traditional Palestinian clothing,” Elghawaby said.
Arnott said the keffiyeh was not considered a “form of protest” in the legislature prior to statements and debates that happened in the House last fall.
“These items are not absolutes and are not judged in a vacuum,” he said.
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