OTTAWA, ON – Conservative Work and Opportunity Critic Pierre Poilievre is calling on the government to demand an end to Bombardier executive pay increases and bonuses until the company repays federal taxpayers all outstanding loans. The call comes after news broke that the company’s executives would get a 50% increase in compensation, from US$21.9 million to $32.6 million, only weeks after taxpayers were forced to loan $372 million to the company.
While the executives have announced they will defer bonuses, they have not promised to go without pay hikes until taxpayer loans are reimbursed.
“The Liberals said they would take money from the rich and give it to the middle class,” Poilievre said. “They are doing the opposite. They are giving middle class tax dollars to a company that has laid off thousands of middle class workers and tried to give US$32.6 million in executive pay hikes this year alone. After a public backlash these millionaire executives have now offered to defer their bonuses for four years. Taxpayers should get their money back before executives get their bonuses.
“It’s not only a matter of fairness for the middle class. Rather, forcing executives to go without bonuses or pay hikes for as long as they take handouts from taxpayers will discourage other companies from coming to government, cap-in-hand. Businesses should make money, not take money. It’s time to put an end to government-funded crony capitalism and corporate welfare, and use the savings to cut taxes for everyone,” Poilievre concluded.