NEWS

Canada’s central bank paid out $45 million in raises and bonuses as inflation skyrocketed

Updated: July 22, 2022 at 3:57 pm EST  See Comments

Fri Jul 22, 2022 – 2:40 pm EDTFri Jul 22, 2022 – 2:42 pm EDT

OTTAWA (LifeSiteNews) – According to records obtained by the Canadian Taxpayers Federation, while soaring inflation was crushing the purchasing power of the average citizen, the Bank of Canada paid out a whopping $45 million dollars in raises and bonuses to its employees.  

“Why is the Bank of Canada patting itself on the back and handing out millions in bonuses and pay raises while Canadians are struggling to pay for groceries and gas?” asked CTF Federal Director Franco Terrazzano upon learning of the BoC’s massive expenditures.  

READ: Canadian Conservatives urged to vote for pro-life leadership candidate Leslyn Lewis

“If its objective is to keep inflation low, then it doesn’t make sense for Canada’s central bank to hand out bonuses and pay raises while the cost-of-living soars,” added the director. 

Looking specifically at how the $45 million dollars were spent, the records shows that the Bank of Canada gave generous pay raises during both 2020 and 2021, while the rest of Canadians were struggling with lockdowns and other COVID-era restrictions.  

In 2020, the Bank of Canada spent $5.3 million dollars increasing

The remainder of this article is available in its entirety at LifeSite News

The views expressed in this news alert by the author do not directly represent that of The Official Street Preachers or its editors

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