I serve as a volunteer board member on the Toronto General & Western Hospital Foundation, and I'm well aware of this private member's bill. The concept of putting a cap on the compensation of executives in hospitals in particular, universities, or any non-profit organization is not a good idea.
The boards of directors of hospitals and universities need to attract the best talent, and we are competing with the United States for the best talent. To put a cap of $250,000 on what the head of a hospital or university can earn would be very counterproductive. We would lose our best talent to institutions in the United States. The compensation decision should be made by the board of directors of the hospital or university, and they should make the judgment as far as what kind of compensation package, research support, and so on is required in order to attract the best and brightest talent.
I'm totally opposed to the concept of a cap on the compensation, and I have offered to appear as a witness before this committee when it has its consultations on that private member's bill.