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Decentralized Democracy

House Hansard - 265

44th Parl. 1st Sess.
December 11, 2023 11:00AM
Context: House Hansard - 265 - Dec/11/23
Mr. Alistair MacGregor (Cowichan—Malahat—Langford, NDP)
  • Dec/11/23 12:14:42 p.m.
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  • Re: Bill C-56 
Madam Speaker, very much related to Bill C-56 is the degree to which corporations are making record profits these days while everyone else seems to be suffering. We recently had Galen Weston, chairman of Loblaw, appear before the Standing Committee on Agriculture and Agri-Food. His profits continue to rise while everyone else, all Canadian families, especially in my riding, are having to struggle and make do without. We see the same thing in the oil and gas sector. Over the last three years, its profits have gone up by over 1,000%. Mr. Weston thought that his executive compensation, which is 431 times the average salary of one of his workers, is a reasonable amount, and he could not tell the committee how many of his full-time workers have had to access a food bank to get by. Conservatives do not want to talk about gross corporate profits these days, but I would like to hear from my hon. colleague what the Liberals are going to do to tackle this corporate culture in which corporations are continuing to make profits while everyone else suffers. We have had 40 years of too much corporate deference in this country. What are they going to do to start turning that around to make sure that the pendulum swings back in favour of Canadian families?
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Context: House Hansard - 265 - Dec/11/23
Mr. Alistair MacGregor (Cowichan—Malahat—Langford, NDP)
  • Dec/11/23 1:43:48 p.m.
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  • Re: Bill C-56 
Madam Speaker, I would like to thank my hon. colleague from Elmwood—Transcona for his speech and also for his interventions with other members of this House. We have been studying this issue in depth at the agriculture committee and I have had the chance to question multiple CEOs; notably Galen Weston of Loblaw. The problem is that we can see the data and everyone talks about small margins in the grocery sector. The fact of the matter is that the margins have actually doubled since the pandemic and the grocery chains are making record profits and they do have gross amounts of executive pay. Mr. Weston's compensation is 431 times the average salary of his employees. We know from unions representing grocery workers that in many cases those workers cannot afford to shop where they work. None of the CEOs could tell me how many of their employees are using food banks to get by. I would like to hear my colleague's thoughts on the fact that through both Liberals and Conservatives we have a policy, over the last 40 years, of too much corporate deference in this country and not enough hard analysis of how we are letting corporations get away with this. Canadians are being asked to shoulder the blame while corporations are continuing to make a lot of money off their backs.
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