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Toronto, May 30, 2018 – It has been exactly one year since the Ontario government announced the plan to reach a $15 minimum wage on January 1, 2019, yet businesses who are footing the bill are still awaiting an analysis of the impact on jobs and the economy.
The Canadian Federation of Independent Business (CFIB) is challenging the next government to immediately do the homework on the hike and conduct and publicly release a comprehensive economic impact analysis before the minimum wage is increased beyond the current $14 per hour.
“Many businesses across the province have been struggling with the increase to $14 and the additional costs of the numerous other labour reforms,” said Julie Kwiecinski, CFIB director of provincial affairs, Ontario. “We still don’t fully understand the impact of the increase to $14. To move forward on the minimum wage without an economic impact analysis would be reckless.”
Ninety-four per cent of Ontario small businesses agree that the provincial government should be required to conduct and publicly release the results of an economic impact analysis for any minimum wage increase beyond the rate of inflation.
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CFIB is Canada’s largest association of small- and medium-sized businesses with 110,000 members across every sector and region, including 42,000 in Ontario. Learn more at cfib.ca.