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Finance Ministers ignore warning signs and move to hike CPP in MB

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CFIB pleased Manitoba government stands up for small biz

Winnipeg, June 21, 2016 – The Canadian Federation of Independent Business (CFIB) commends the government of Manitoba for being one of only two provinces willing to stand up for small business owners by declining to support the CPP agreement in principle reached yesterday.

“We were pleased to see that at least one government was willing to put the Canadian economy, workers and small businesses ahead of political agendas and union pressure,” said Marilyn Braun-Pollon, CFIB vice-president prairie and agri-business.

Yesterday, Canada’s finance ministers decided to hit small business owners with another tax with an agreement in principle to expand the Canada Pension Plan (CPP), a devastating move for Canadian workers and the economy in general.

The agreement in principle will see a CPP hike phased in between 2019 and 2025. Contributions will increase to cover 33 per cent of income, up from 25 per cent under the current system. The earnings threshold will increase to $82,700 by 2025. Even if Manitoba does not sign the final agreement, CPP premiums will increase for Manitoba workers and employers beginning in 2019.

“It is tremendously disappointing to see the majority of finance ministers putting Canadian wages, hours and jobs in jeopardy and willfully moving to make an already shaky economy even worse,” added CFIB president Dan Kelly. “Despite all the talk, it appears that jobs and the economy are not particularly high priorities for the governments that have signed off on this deal.”

Eight in 10 Manitoban small business owners oppose mandatory CPP increases. Two thirds say CPP hikes will increase pressure to freeze or cut salaries, and 34 per cent say they will have to cut jobs.

To arrange an interview with Dan Kelly, please contact Ryan Mallough at 416-222-8022, 647-464-2814 or [email protected].

To arrange an interview with Marilyn Braun-Pollon, Vice-President Prairie and Agri-business at (204) 982-0817, 1 888 234-2232 or email [email protected] You can follow Marilyn on Twitter @cfibMB

CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members (4,800 in Manitoba) across every sector and region.