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CMHC dished out $30 million in bonuses in 2024

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By Ryan Thorpe 

The Canada Mortgage and Housing Corporation rubberstamped $30.8 million in bonuses in 2024, according to government records obtained by the Canadian Taxpayers Federation.

That pushes total bonuses at the CMHC up to $132 million since the beginning of 2020.

“Why are Canada’s housing bureaucrats showering themselves with bonuses when countless Canadians can’t afford homes?” said Franco Terrazzano, CTF Federal Director. “Canadians need more homes, not more highly paid pencil pushers rubberstamping bonuses for each other.”

A total of 2,398 CMHC staff (91 per cent of its employees) took $30.8 million in bonuses in 2024 – for an average of $12,865 each.

The records show that 12 CMHC executives took a combined $1 million in bonuses last year – for an average of $83,859 each.

The CMHC also issued 2,190 pay raises to staff in 2024, costing taxpayers $9.3 million. No employees took a pay cut, according to the records.

The CMHC has repeatedly claimed it’s “driven by one goal: housing affordability for all.”

In 2024, the Royal Bank of Canada said it was the “toughest time ever to afford a home.”

Last year, polling from Ipsos found 72 per cent of Canadians who do not own a home say “they have given up on ever owning” one.

Eighty per cent of respondents to that poll also said home ownership in Canada is now “only for the rich.”

The Canadian Real Estate Association, in its latest housing outlook report, predicted the average home price will “climb by 4.7 per cent on an annual basis to $722,221 in 2025.”

“The CMHC’s c-suite deserve pink slips more than huge bonuses,” Terrazzano said. “The federal government must stop rewarding failure with taxpayer-funded bonuses.”

Undeserved bonuses are a longstanding tradition in Ottawa.

The federal government has awarded $1.5 billion in bonuses since 2015, despite the fact that “less than 50 per cent of [performance] targets are consistently met within the same year,” according to the Parliamentary Budget Officer.

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Rogue Devices Capable Of Triggering Blackouts Reportedly Found In Chinese Solar Panels

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From the Daily Caller News Foundation

By Audrey Streb

“That effectively means there is a built-in way to physically destroy the grid”

Officials are reportedly reassessing the risk posed by Chinese-made devices found in solar panels that are capable of damaging the energy infrastructure, destabilizing the power grid and triggering widespread blackouts.

Over the past nine months, “rogue communication devices” not listed in product documents were found in solar power inverters and batteries from several Chinese suppliers, according to sources familiar with the matter who spoke with Reuters. The undocumented devices were found after U.S. experts disassembled the renewable energy equipment to check for security issues, prompting officials to review the potential dangers of the Chinese-made devices, according to the publication.

“We know that China believes there is value in placing at least some elements of our core infrastructure at risk of destruction or disruption,” Mike Rogers, a former director of the U.S. National Security Agency, told Reuters. “I think that the Chinese are, in part, hoping that the widespread use of inverters limits the options that the West has to deal with the security issue.”

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The communication devices were reportedly found in power inverters, which are used to connect solar panels and wind turbines to the power grid and are often produced in China. They are also found in electric vehicle chargers, batteries and heat pumps. Undocumented cellular radios were also found in Chinese-manufactured batteries, according to the publication.

If the rogue communication devices found in the inverters are used to circumnavigate firewalls and change the settings or turn off inverters remotely, this could destabilize power grids, damage energy technology and prompt blackouts, according to experts who spoke with Reuters.

“That effectively means there is a built-in way to physically destroy the grid,” one of the sources told the publication.

For years, energy and security experts have cautioned that reliance on Chinese products for green energy could expose the U.S. to espionage and security risks.

A spokesperson for the Department of Energy (DOE) told Reuters that it continually evaluates risks involving new technology and that “while this functionality may not have malicious intent, it is critical for those procuring to have a full understanding of the capabilities of the products received.”

“As more domestic manufacturing takes hold, DOE is working across the federal government to strengthen U.S. supply chains, providing additional opportunities to integrate trusted equipment into the power grid,” the spokesperson continued, noting that the department is working to address any missing disclosure information through “Software Bill of Materials” or inventories of all the parts that make up a software application, in addition to other contract requirements.

“We oppose the generalisation [sic] of the concept of national security, distorting and smearing China’s infrastructure achievements,” a spokesperson for the Chinese embassy in Washington told Reuters.

Republican officials sent a letter advising an American energy company to stop using Chinese-manufactured batteries due to the security risks in December 2023, according to a February 2024 statement.

“We approached Duke Energy regarding its use of Chinese-manufactured CATL batteries and network-equipped systems, which posed an unacceptable surveillance risk at Camp Lejeune, North Carolina — the largest Marine Base in the United States. Directly following our inquiry, Duke disconnected  the Chinese-manufactured systems from the grid,” former Republican Wisconsin Rep. Mike Gallagher and Secretary of State Marco Rubio, a U.S. senator for the state of Florida at the time, wrote in the press release. “Others that continue to work with CATL, and other companies under the control of the CCP, should take note,” they continued.

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Taxpayers deserve a federal budget

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By Franco Terrazzano

The Canadian Taxpayers Federation is calling on the federal government to table a 2025 budget.

“Failing to even present a budget is a huge crack in Prime Minister Mark Carney’s credibility,” said Franco Terrazzano, CTF Federal Director. “You can’t be credible with the finances if you can’t even bother to put together a budget.”

The Canadian Press reported that the federal government “will not table a budget when Parliament returns in the coming weeks but will instead put forward a fall economic statement.”

Carney plans to add an extra $225 billion to the debt over the next four years, according to his election platform. For comparison, the Trudeau government planned on increasing the debt by $131 billion over those years, according to the most recent Fall Economic Statement.

Interest charges on the debt will cost taxpayers $54 billion this year. That’s about the same amount of money as the federal government sends to the provinces through the Canada Health Transfer.

“Canadians have real concerns about the state of our national finances and the Carney government is answering with a shrug,” Terrazzano said. “Taxpayers deserve to know the state of government finances and scrutinize government spending, so Carney owes Canadians a budget.”

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