The Canadian Taxpayers Federation is set to host its 18th annual Teddy Waste Awards "black tie ceremony" in Ottawa Wednesday.

The tongue-in-cheek awards are handed out to highlight egregious cases of wasteful government spending at all levels.

The awards are named after Ted Weatherill, the former chairman of the Canadian Labour Relations Board, who racked up nearly $150, 000 in expenses – including $700 on a lunch – and was fired in the late 1990s.