Ottawa, December 16, 2019 – The federal government’s commitment to raising the Basic Personal Exemption limit to $15,000 is good news for Canadians facing cost of living increases. However, we caution the government that those savings will likely be offset by the incoming increases in CPP premiums, which will hit both workers and employers over the next six years.
CFIB is also concerned to see another increase in the federal deficit. Small businesses are looking to the government for certainty and stability. They know that today’s deficits are often tomorrow’s taxes, so they expect the government to put in place a plan to balance the budget once and for all.
—Jasmin Guénette, CFIB vice-president of national affairs
For media enquiries or interviews, please contact:
Milena Stanoeva, CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.