The Canadian Federation of Independent Business (CFIB) says a new survey shows that small business owners want the new Ontario government to put planned increases to Canada Pension Plan premiums (CPP) on hold or cancel it altogether.
The hike in CPP premiums is set to go ahead on Jan. 1, 2019. “Changes to CPP require the support of two-thirds of the provinces representing two-thirds of the population, giving Ontario an effective veto as Canada's largest province,” says the CFIB.
The new CFIB survey indicates that 84 per cent of Ontario business owners want their government to delay CPP expansion pending a review of other options (52 per cent) or withdraw its support entirely (32 per cent), says the organization.
Press pause on previous government's decision
"Small business owners are calling on Premier Ford and Finance Minister Fedeli to press pause on the previous government's decision to raise payroll taxes on small employers," said Dan Kelly, CFIB president. "We cannot forget that CPP expansion means every Canadian's paycheque and employer's payroll budget will be smaller every January 1 for the next five years," Kelly added.