The Canadian Taxpayers Federation is taking legal action to force the Bank of Canada to disclose how much it pays its top executives.
The group filed a Federal Court challenge after the central bank refused to release records detailing compensation for governors and senior deputy governors between 2012 and 2023, including salaries, bonuses, and performance pay.
According to the federation, Canadians have a right to know how much public officials are earning, especially within a Crown corporation funded by taxpayers. They argue that access-to-information laws are meant to ensure transparency, and that withholding this information undermines public accountability.
The Bank of Canada declined the request, citing privacy protections under federal law. A complaint was filed with the Office of the Information Commissioner, which found some information may have been improperly withheld but largely sided with the government’s position.
In response, the federation—alongside transparency advocate Matthew Malone—is asking the court to order the release of the records, arguing that executive compensation in public institutions should not be kept secret.
The group also points out that similar information is publicly available in other jurisdictions, such as the United Kingdom, where central bank leadership pay is disclosed.
