TORONTO, June 20, 2016 /CNW/ - Senior representatives from the Canadian Federation of Independent Business (CFIB) will be available to comment on today's finance ministers' meeting, providing small business reaction to any decision reached on Canada Pension Plan / Quebec Pension Plan (CPP/QPP) expansion.
CFIB president Dan Kelly and senior economist Simon Gaudreault will be available immediately after the meeting finishes at 7:00 (EST).
CFIB met with finance ministers from every province in advance of the meeting and urges all provinces to say no to CPP/QPP expansion. Two-third of small business owners say that a mandatory CPP/QPP increase would increase pressure to freeze or cut salaries, and one third say it would force them to lay off employees.
"As the economy continues to struggle, it's imperative that policy decisions do not set back the small business community," said Dan Kelly. "Workers prefer other retirement options. It hurts businesses, young people and those with lower incomes, and it does nothing to help current retirees. The only people that will benefit from an expanded CPP/QPP are the ones collecting the taxes," said Kelly.
CFIB is Canada's largest association of small- and medium-sized businesses with 109,000 members across every sector and region.
SOURCE Canadian Federation of Independent Business
For further information: To arrange an interview with Dan Kelly, please contact Ryan Mallough at 416-222-8022, 647-464-2814 or email [email protected]