Quebec wants to pay its board members

The Finance Minister will introduce a bill today to ensure the salaries of all members of the Board of Directors of Crown Corporations.

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Eric Girard promised in his recent budget to modernize the law regarding the governance of state-owned enterprises.

Today he will introduce his bill in the National Assembly.

The latter proposes to pay the salaries of all members who sit on the boards of praise of government agencies such as Hydro-Quebec and the Society des Alcoles du Quebec (SAQ). This new standard excludes employees from the public sector or a subsidiary of these companies.

The aim behind this move is to make Crown Corporations more attractive and competitive and thereby attract highly qualified directors.

The 2020-2021 budget also addresses improved parity zone responsibility between men and women (40% -60%) for each turnover.

Annual reports should be more transparent and disclose the compensation paid to each of the five most senior executives. Payment of signing bonuses and deductions must be disclosed.

Therefore, the budget plan suggests that Quebec wants “better accountability for the use of public funds”.

Finance Minister Eric Girard will present an update this afternoon after introducing his bill.

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