The Crown Investments Corporation (CIC) has released the 2020-21 Payee Disclosure Report for CIC and its subsidiary Crown corporations.
Total sector compensation for the period was comparable to 2019-20 at just over $1 billion.  Of that, 2020-21 executive compensation totaled $19.8 million – a 3 per cent decrease compared to 2019-20.  CIC says, overall, executive compensation has decreased by 21 per cent since 2017-18.

Going forward, Crown executive compensation will see reduced salary holdback payments between 6.7 and 25 per cent of base salaries.  Total executive compensation reductions are estimated to be $1.82 million per year based on this change.

The report shows the Crown sector provided about $10.8 million in community support through grants, contributions, donations and sponsorships.

$5.7 billion in payments were made to suppliers and others primarily for products and services, up slightly from $5.6 billion in the previous year.  Municipalities once again received $21 million from the sector through grants-in-lieu of property taxes, matching payments made in 2019-20.