Trudeau Defends Pay Raise Given To Bombardier Executives

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After Bombardier received a government bail out package from the Trudeau government in the amount of $372.5 million, Bombardier executives received a 50 percent increase in wages.

Trudeau was questioned by the media on the subject while he was touring the Magna auto parts facility in Brampton, Ont.

“We respect the free market and the choices that companies will make,” Trudeau said. “But we also have a responsibility to ensure that the investments we make with taxpayers’ dollars are leading to good jobs and growth.”

Pay increases are as follows reported by huffpost.com:

Total compensation for the Montreal-based manufacturer’s top five executives and board chairman Pierre Beaudoin was US$32.6 million in 2016, up from US$21.9 million the year before, according to a proxy circular ahead of Bombardier’s annual meeting on May 11.

CEO Alain Bellemare received US$9.5 million, up from US$6.4 million in 2015, including US$5.2 million in share and option-based awards and a US$1 million salary. His annual bonus almost doubled to US$2.36 million.

Beaudoin’s total compensation increased to US$5.25 million from US$3.85 million a year earlier.

That’s an increase of nearly 50 percent after receiving the bail out and putting thousands of people out jobs. 

That’s a slap in the face for Canadians as tax dollar are used for personal benefits.