A Crown corporation paid bonuses amounting to $93 million to public-sector employees during the Covid-19 pandemic, says a new report.
A report from the Canadian Taxpayers Federation (CTF) said the Business Development Bank of Canada (BDC) paid an average compensation bump of roughly $20,000 per employee between the years of 2020 and 2021.
CTF federal director Franco Terrazzano says that was inappropriate.
“The federal Crown corporation shouldn’t have doled out big bonuses and higher pay while Canadians were losing their jobs and businesses,” he said.
The CTF reported that the bank paid its senior executive team a combined total of $800,000 more year-over-year.
This information comes a week after CBC News said the bank was raising eyebrows due to its questionable expenses under new CEO Isabelle Hudon.
CBC said the bank awarded a $2.8 million contract to controversial firm McKinsey & Co. the same month that Prime Minister Justin Trudeau appointed Hudon as the new CEO.
True North reported last week that a parliamentary committee is now investigating more than $100 million in contracts between McKinsey & Co. and the federal Liberal government.