The Minister of Finance will table a bill today to ensure that all members of the boards of directors of crown corporations are paid.
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Eric Girard promised in his most recent budget to modernize the Act respecting the governance of state-owned enterprises.
He will table his bill today in the National Assembly.
The latter will propose to remunerate all the members sitting on the boards of admiration of government corporations, such as Hydro-Québec and the Société des alcools du Québec (SAQ). This new standard would exclude employees of the public sector or of a subsidiary of these companies.
The objective behind this measure would be to make Crown corporations more attractive and competitive and thus attract the most qualified directors.
The 2020-2021 budget also mentioned the obligation of a better parity zone between men and women (40% -60%) for each turnover.
Annual reports will also have to be more transparent and disclose the compensation paid to each of the five most senior executives. Signing bonuses and severance pay must be disclosed.
Thus, Quebec wants “better accountability for the use of public funds”, indicated the budget plan.
The Minister of Finance, Eric Girard, will provide an update this afternoon, following the tabling of his bill.