Québec solidaire wants to tackle the salaries of senior executives by a clause “Bombardier”

News 19 March, 2018
    Gabriel Nadeau-Dubois

    QMI agency

    Monday, 19 march, 2018 12:23

    Monday, 19 march, 2018 12:23

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    MONTREAL – Quebec solidaire wants to force companies that receive financial assistance from the State to pay their senior executives a maximum of 30 times more than their lowest employee, a rule that would take the name of “clause Bombardier”.

    “It is not normal that a handful of senior executives took advantage of the largesse of the State to grant themselves bonuses and increases heavily during that 970 000 employees in Quebec make less than $ 15 per hour,” said the spokesperson of Québec solidaire, Gabriel Nadeau-Dubois, by press release on Monday.

    By this clause, QS made particular reference to the giant aerospace Bombardier who, last spring, had decided to grant a salary increase of 48 % in six of its most senior executives, while the company had benefited from financial assistance of $ 1.3 billion of the government Couillard for the C Series.

    According to this rule, the president and CEO of Bombardier, Alain Bellemare, would have currently a maximum annual earnings of $ 1.1 million, estimated to Québec solidaire. According to The “Journal de Montréal” reported in march 2017, the remuneration of Mr Bellemare in salary and other benefits was nearly $ 12.5 million in 2016.

    If QS were to take power, the clause would be applied progressively, following the renewal of the support to the public. Companies not receiving the State support would not be submitted.

    The public and parastatal agencies would have to comply with a wage ratio even more stringent from 1 to 10.

    “In Canada, the 100 business leaders and best-paid earn on average 209 times the salary of their average employee. We can do better”, for its part, indicated the spokesman of the formation of the left, Manon Massé.