NEWS RELEASE · 21st August 2012
Cummins to BC Liberals - 'Why were ICBC executives treated so much better than their rank-and-file employees?'
Even as compensation for senior executives at the Insurance Corporation of British Columbia was skyrocketing by 70.8 per cent in just four years, the total paid to ordinary ICBC employees earning less than $75,000 per annum fell over the same period by 2.3 per cent.
"It has every appearance of an outrageous abuse of trust," said John Cummins, leader of the BC Conservatives.
"The BC Liberals and their appointees to ICBC's board of directors, as well as Crown corporation senior managers, evidently were deliberately suppressing both the wages and numbers of front-line workers, while at the same time pushing through massive hikes in pay and bonuses for the swelling ranks of corporate executives."
Using Financial Information Act returns filed annually by the Crown corporation, Cummins yesterday released an exclusive analysis of compensation paid to ICBC executives between 2007 and 2011.
Today Cummins further revealed that the total compensation paid to ICBC workers earning less than $75,000 per annum actually dropped, from $223.1 million to under $218.0 million, over the identical four-year period.
"I question why total compensation for ordinary workers plunged by more than $5 million," Cummins asked, "while at the same time pay for executives soared by more than $70 million.
"Of course, what is even more shocking are the claims by Kevin Falcon and other BC Liberals that they had no idea this was happening right under their noses."
Comment by Moe Naguib on 21st August 2012
I read a lot of stuff put out by the Tories, but really would they do anything differently than the Liberals? Should they find their way into government one would just see more of the same nonsense, costing us taxpayers billions!