Toronto, March 11, 2020 – 2020 has been marked by significant economic uncertainty, from rail blockades and cancelled resource projects to the implications of COVID-19. Many small firms are concerned about both the economic and human resources issues and asking lots of questions.
CFIB is pleased by today’s federal announcement that employees who must stay home can now access Employment Insurance without a one-week waiting period. This will help both workers and employers, including many small firms that are not able to offer any sick time or enough to last during a period of quarantine. Expanding the work share program is a very good idea to help businesses who are experiencing a drop in demand for their products and services. Many businesses in tourism or those serving the Asian-Canadian community have seen a dramatic drop in sales, and allowing business owners to reduce hours will help them protect jobs.
Canadians and small businesses need reassurance that their governments are here to support them and that they will work to keep the economy stabilized in the weeks to come. To this end, we urge the government to consider further measures, such as providing relief from penalties and interest for late remittances of sales taxes and Workers Compensation premiums for businesses in distress; pressing pause on routine audits; and considering relief measures for those experiencing significant impacts as with any other natural disaster. In particular, in light of plans to reduce payroll-based taxes in the US, CFIB calls on the federal and provincial governments to put planned increases in CPP/QPP premiums on hold.
-Dan Kelly, President, Canadian Federation of Independent Business (CFIB)
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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.