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CFIB encourages government to push back implementation for smaller businesses
Toronto, February 16, 2016 – The Ontario government has delayed the introduction of the Ontario Retirement Pension Plan (ORPP) by one year, but has not signaled if it will push back the 2019 implementation date for small businesses.
“We are pleased to see that the government is taking a more cautious approach to implementing the ORPP in a difficult economy,” said Dan Kelly, president of the Canadian Federation of Independent Business (CFIB). “We hope it is a signal that government is beginning to recognize the economic harm this ill-advised policy would create and urge them to implement a similar delay for the small- and medium-sized businesses that drive the province’s job market.”
Newly exposed government data from March 2015 shows that 57 per cent of the business community are opposed to the ORPP and nearly six in 10 expect to be negatively affected. Additionally, 59 per cent expect to cut or freeze wages, and two-thirds expect to make other operating cuts.
“CFIB has been sharing similar data collected from our members with the Ontario government for the last two years. We hope today’s delay is a sign that the government is finally taking seriously the impact the ORPP will have on wages and jobs,” added Kelly. “While CFIB continues to firmly oppose the ORPP and plans for a CPP expansion, we hope that today’s announcement will make it less likely that Ontarians see the double whammy of both ORPP and CPP payroll tax hikes.”
To arrange an interview with Dan Kelly, please contact Ryan Mallough at 416-222-8022 or [email protected].
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region.