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.
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“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
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