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MP pay to increase between $8,000 and $16,000 in 2024

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From the Canadian Taxpayers Federation

Author: Franco Terrazzano 

The Canadian Taxpayers Federation estimates members of Parliament will take a 4.2 per cent pay raise on April 1.

“The federal government is more than $1 trillion in debt, taxpayers are struggling to afford basic necessities and MPs don’t deserve raises, so this is the perfect time to stop rubberstamping the pay raises politicians give themselves every year,” said Franco Terrazzano, CTF Federal Director. “MPs stopped pay raises in the past and they should stop this year’s pay raise.”

A backbench MP’s salary is currently $194,600. A minister collects $287,400, while the prime minister takes home a $389,200 annual salary.

MPs give themselves pay raises each year on April 1, based on the average annual increase in union contracts with corporations that have more than 500 employees.

While final pay numbers have not been released, contract data published by the government of Canada shows the average annual increase in the private sector was 4.2 per cent in 2023. Using this data, the CTF estimates this year’s pay raise will amount to an extra $8,100 for backbench MPs, $11,900 for ministers and $16,200 for Prime Minister Justin Trudeau.

After this year’s pay raise, backbench MPs will receive a $202,700 annual salary, according to CTF estimates. A minister will collect $299,300, while Trudeau will take home $405,400.

The federal government stopped automatic MP pay hikes from 2010 to 2013 in response to the 2008-09 recession.

“MPs should know better than to give themselves raises while their constituents are worried about rising mortgage payments and are struggling to feed their families,” Terrazzano said. “It’s not rocket science: MPs should do the right thing and stop their upcoming pay raise.”

Position Pre-pandemic salary Current salary Salary Apr.1 2024 (estimate) Total increase since beginning of 2020
MP

$178,900

$194,600

$202,700

$23,800

Minister

$264,400

$287,400

$299,300

$34,900

Prime Minister

$357,800

$389,200

$405,400

$47,600

The average annual salary among all full-time workers is about $67,000, according to Statistics Canada.

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Business

Musk: X to sue groups that conspire to boycott conservative news sites

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From The Center Square

“That system guarantees that advertising dollars flow only to left-leaning media brands.”

Tesla founder and X owner Elon Musk said Thursday he plans to file a lawsuit against a collaboration of people and organizations that work to prevent advertising dollars from going to conservative news media brands.

Musk announced his intention on X while sharing video of Daily Wire co-founder Ben Shapiro’s Congressional testimony on the topic from Wednesday.

“Having seen the evidence unearthed today by Congress, 𝕏 has no choice but to file suit against the perpetrators and collaborators in the advertising boycott racket,” Musk wrote. “Hopefully, some states will consider criminal prosecution.”

At Wednesday’s House Judiciary Committee hearing on “Collusion in the Global Alliance for Responsible Media,” Shapiro told lawmakers that legacy media and their political allies conspire with online advertising gatekeepers to paint conservative news organizations as “dangerous,” limiting their opportunity to receive advertising revenue.

“There is in fact an internal pressure system created by Democratic legislators, this White House, legacy media, advertisers and pseudo-objective brand safety organizations,” Shapiro testified. “That system guarantees that advertising dollars flow only to left-leaning media brands.”

Shapiro identified the Global Alliance for Responsible Media (GARM) as one of those gatekeepers of online advertising revenue.

“In reality, GARM acts as a cartel. Its members account for 90% of ad spending in the United States, almost a trillion dollars,” he testified. “In other words, if you’re not getting ad dollars from GARM members, it’s nearly impossible to run an ad-based business. And if you’re not following their preferred political narratives … you will not be deemed brand safe. Your business will be throttled.”

​Dan McCaleb is the executive editor of The Center Square. He welcomes your comments. Contact Dan at [email protected].

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Artificial Intelligence

Elon Musk is building the ‘most powerful Artificial Intelligence training cluster in the world’

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News release from The Deep View

Elon Musk’s xAI has ended talks with Oracle to rent more specialized Nvidia chips — in what could have been a $10 billion deal — according to The Information.
Musk is instead buying the chips himself, all to begin putting together his planned “gigafactory of compute.”
The details: Musk confirmed in a post on Twitter that xAI is now working to build the “gigafactory” internally.
  • Musk explained that the reason behind the shift is “that our fundamental competitiveness depends on being faster than any other AI company. This is the only way to catch up.”
  • “xAI is building the 100k H100 system itself for fastest time to completion,” he said. “Aiming to begin training later this month. It will be the most powerful training cluster in the world by a large margin.”
xAI isn’t the only one trying to build a supercomputer; Microsoft and OpenAI, also according to The Information, have been working on plans for a $100 billion supercomputer nicknamed “Stargate.”
Why it matters: The industry is keen to pour more and more resources into the generation of abstractly more powerful AI models, and VC investments into AI companies, as we noted yesterday, are growing.
But at the same time, concerns about revenue and return on investment are growing as well, with a growing number of analysts gaining confidence in the idea that we are in a bubble of high costs and low returns, something that could be compounded by multi-billion-dollar supercomputers.
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