Energy Minister Andrew Parsons says he’s “pissed off” with word that Nalcor doled out massive performance bonuses to high-ranking executives at a time of significant fiscal restraint.
The so-called Sunshine List, a public listing of all government salaries over $100,000 was late coming out this year because of the pandemic.
Nalcor President and CEO Stan Marshall tops the list. He received a $315,000 bonus on top of a $459,000 salary.
Gilbert Bennett, who was severely chastised by Muskrat Falls Inquiry Commissioner Richard LeBlanc, received a bonus of nearly $70,000. Other Nalcor executives received bonuses of between $50,000 and $70,000.
Parsons says he’s taken action and has informed Nalcor that government will be ending that practice.
The bonuses come as credit rating agency DBRS Morningstar estimates that the province’s adjusted debt-to-GDP ratio could rise to approximately 70 per cent in 2020-21.
(File photo.)
Opposition Leader Ches Crosbie wonders why Nalcor was allowed to pay out bonuses given the criticism levelled by the Muskrat Falls inquiry.
He says even former Premier Dwight Ball refused to pay bonuses to them. He wonders if government is even aware of what Nalcor is doing.
The bonuses come as credit rating agency DBRS Morningstar estimates that the province’s adjusted debt-to-GDP ratio could rise to approximately 70 per cent in 2020-21.
