The new year starts with a lot of news about wages.
As reported in various newspapers, including the Globe and Mail and La Presse, the Canadian Centre for Policy Alternatives has published a report entitled “Canada’s CEO elite: the 0.01%” (available here) regarding the annual compensation of Canada’s highest paid 100 executives in 2010. The titles of the newspaper articles alone reveal that these salaries are not insignificant.
Of interest is also the fact that Gildan Activewear Inc.’s Board of Directors will offer shareholders an advisory vote during the 2012 annual shareholders’ meeting on the corporation’s approach to executive compensation, as disclosed in its 2011 Management Proxy Circular.
For other Canadian workers, the news seems a bit more grim, according to the Canadian Taxpayers Federation. Payroll taxes – most notable employment insurance and Canadian Pension Plan rates – increased on January 1, 2012. Various provinces will see other taxes increase.