By Canadian Press

O’Toole makes pitch to seniors on pensions while calling out ‘corporate elites’

Aug 24, 2021 | 8:11 AM

OTTAWA — A day after throwing a line to private-sector union workers, Conservative Leader Erin O’Toole is digging in against what the party calls “corporate elites” in a pitch to Canadian seniors and working-class voters.

O’Toole is pledging to give priority to pensioners over companies and most other creditors during bankruptcy or restructuring proceedings.

At an announcement from his virtual broadcast studio in Ottawa, he said a Conservative government would amend legislation to prevent executives from paying themselves bonuses while steering a company through restructuring unless the pension plan is fully funded.

The Tory leader, who yesterday promised union representation on big companies’ boards, says workers have been forced to take major cuts to their pensions when their former employer goes bankrupt, with Sears as a recent example.

For seniors, the Liberals pledged $3 billion over over five years in their budget from the spring to support long-term care and another $90 million over three years to help low-income seniors age at home.

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This report by The Canadian Press was first published Aug. 24, 2021.

The Canadian Press