241 - CFIB wins huge victory on Employment Insurance
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Due to the economic downturn, the Employment Insurance (EI) account was in a multi-billion dollar deficit-there should have been a $57 billion surplus, but it was spent on other priorities. To deal with this deficit, the government planned maximum increases in EI premiums-15 cents for employees per every $100 of earnings and 21 cents for employers-over the next three years. This would have crippled job growth at the worst possible time.
CFIB was the first to stand up and fight back. Over the last six months, extensive lobbying across Canada, hundreds of media appearances, and incredible feedback from our members via postcards, posters and messages on our Facebook page all led to an important victory:
- The government announced that EI rates would increase by 5 cents for employees and 7 cents for employers, only one third of what was planned.
- This translates to over one billion dollars in savings for all Canadians.
- The government will also limit future increases to no more than 10 cents for employees and 14 cents for employers.
Your input was central to achieving this important victory!
Victory!
Catherine Swift (left) at the EI announcement with Federal Finance Minister Jim Flaherty (right).
