Threat of payroll tax hikes remains
TORONTO, Dec. 16, 2013 /CNW/ - Small business owners across Canada are
breathing a sigh of relief to learn federal, provincial and territorial
finance ministers did not reach an agreement to increase Canada Pension
Plan (CPP) and Quebec Pension Plan (QPP) premiums at this time. The
proposed increases did not have the support of most Canadians, and
would have had grave consequences for the economy.
"While we're not out of the woods, we are pleased ministers did not
conclude that the time is right to raise CPP payroll taxes on Canadians
and their employers," said Dan Kelly, president of the Canadian
Federation of Independent Business. "However, it is clear that this
threat is not going away."
CFIB is urging provinces to let the new pooled registered pensions have
a chance to work as a majority of provinces have announced plans to
launch them in the months ahead. "Before any further thought is given
to hiking CPP/QPP, we are calling on ministers to commit to full public
consultations as they did when premiums were doubled several years
ago. The discussion needs to shift to IF hiking CPP is the best
solution to enhance retirement savings, not just WHEN and HOW MUCH."
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 Gisele Lumsdem at 416-222-8022 or email@example.com.