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The federal government is planning to move forward with a new statutory holiday to mark the legacy of residential schools. This would only affect federally regulated industries; each provincial government will decide if they implement it as a statutory holiday in their province.
We support Canada’s efforts toward reconciliation with its Indigenous peoples, and it is not our place to determine how reconciliation is best achieved. However, in discussing this particular proposal, it should be acknowledged that the introduction of a new statutory holiday has major costs for the economy and businesses. In fact, preliminary estimates from CFIB based on StatsCan data and provincial government methodology indicate that one additional paid statutory holiday could cost Canadian businesses up to $3.6 billion annually in potential lost productivity.
When CFIB has surveyed members in recent years, they generally do not support new statutory holidays by a ratio of 2:1. That’s why we are hoping provincial governments will consider how another statutory holiday would impact business owners.
Saskatchewan Premier Scott Moe has said his government will consider the cost to employers before deciding whether the province will observe the holiday. We’re recommending that his fellow premiers do likewise.
Contact CFIB today to tell us what impact a new statutory holiday could have on your business (e.g. higher wage costs to stay open during a holiday, lost production, etc.). We will share your views with your premier.
Call CFIB Business Counsellors at 1-888-234-2232 or email [email protected].