Public Sector Compensation Disclosure Act Introduced

Government spending will be more transparent and accountable through new legislation that will bring clarity and direction to government agencies.

The Public Sector Compensation Disclosure Act was tabled today, Nov. 26, by Finance Minister Graham Steele.

"The purpose of this legislation is to expand reporting of compensation to people who work for public sector bodies," said Mr. Steele. "This will make it much easier for taxpayers to see where their money is going, and to judge for themselves whether the compensation is reasonable."

Highlights of the new legislation include reporting the name and amount of compensation for people working for public sector bodies who earn $100,000 or more each year. The information must be disclosed in an audited statement, and must be posted to a publicly-accessible website.

The legislation will apply to, among other bodies, Crown corporations, agencies, boards, and government business enterprises. It will also apply to any body designated in regulations.

"We know there is a tremendous variety of organizational structures and payment arrangements in the broader public sector, and so some time will be needed to work out exactly how this new reporting requirement will work for any given organization," said Mr. Steele. "We are happy to work with any public-sector body to help them understand exactly what their new obligations will be."

The first mandatory report under the legislation will be for the 2011-12 fiscal year. If any public-sector body is ready to report before then, it may do so.

This new legislation complements the government's existing annual reporting through the Public Accounts, Volume III.

A complete copy of the legislation can be found at http://nslegislature.ca/