Toronto, November 14, 2017
Announced on their own, today’s Fall Economic Statement initiatives would have been welcome news for small business. In fact, CFIB has long lobbied for reduction in small business taxation, incentives to hire youth, and enhancing apprenticeship training. However, the thousands of business owners across the province will be assessing today’s measures against a very tough backdrop: A massive minimum wage hike and drastic labour reforms in less than two months’ time. This is in addition to incoming increases to CPP and EI premiums, and cap & trade and hydro costs.
Bill 148 ($15 minimum wage and other labour reforms) will put a crushing burden on Ontario’s small businesses and their ability to remain competitive in a global market. As important as the initiatives announced today are, they won’t offset the real impact of this legislation on Ontario’s jobs and the economy.
-Plamen Petkov, vice president,Ontario
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region, including 42,000 in Ontario.