January 6 2026
While many Canadians were struggling and food bank usage was going through the roof, Canada’s high-paid corporate executives were making more than ever. According to the Canadian Centre for Policy Alternatives annual report on CEO pay, the average pay for the 100 highest-paid chief executive officers (CEOs) was $16.2 million in 2024.
CEO pay going up faster than inflation, while workers falling behind
Since 2020, CEO pay has increased by 49%. That’s more than the increases for costs like food, housing or utilities. In contrast, the average worker has only seen a 15% increase since 2020 and is falling behind.
Increasing gap between the wealthy and the rest of us
CEOs are now making 248 times what an average worker makes. By 9:23 a.m. on January 2, the 100 highest-paid CEOs had made as much as the average worker will make it a year.
Federal government abandoning tax fairness measures means CEOs will pay less tax
Much of the money CEOs make comes in the form of shares. Capital gains from the sale of shares are only taxed at 50% of their value. In contrast, people pay taxes on 100% of earned income. The loophole for capital gains income makes it easier for CEOs to avoid paying their share in taxes.
In 2024, the federal government proposed a modest increase to capital gains taxes. Capital gains would still have been taxed at a lower rate than earned income, but people would have been paying tax on two-thirds of the value instead of one-half.
But the increase in capital gains taxes was one of the measures that the federal government abandoned in the last year. That’s good news for CEOs wanting to buy a fancy yacht and bad news for people who want governments to have more money for services like health care.
Income and wealth inequality hurt everyone
Research has shown that more equal societies do better. When wealth and income inequality are allowed to increase, the result is a rise in social problems. Problems that increase with inequality range from poor health outcomes to an increase in crime. Income and wealth inequality also harms economic growth.
CEO incomes rising far higher than the incomes of working people should be a wakeup call for governments. Governments need to be making life fairer for everyone. As the CCPA report points out, a first step is making sure the wealthy pay their share. A second step is using that tax revenue to improve the public services we all rely on.