TORONTO, Oct. 3, 2013 /CNW/ - In response to recent reports that PEI Finance Minister Wes Sheridan has made a specific proposal to other finance ministers on hikes to Canada Pension Plan/Quebec Pension Plan (CPP/QPP) benefits and premiums, the Canadian Federation of Independent Business (CFIB) is available for comment.
"CFIB's research found that earlier proposals to increase CPP/QPP premiums would kill between 700,000 and 1.2 million person years of employment. While we will review PEI's proposal carefully, the hike in premiums would likely have a massive impact on small businesses and their ability to create or even retain jobs," said Dan Kelly, CFIB president. "Small firms believe that the economy cannot manage a significant increase in payroll taxes - and that governments should be focusing on ensuring public sector pensions are sustainable and fair before looking at ways to hike taxes on employers and employees."
CFIB has led a multi-year campaign against CPP/QPP premium hikes after Canada's finance ministers first proposed an increase in the summer of 2010. CFIB has collected over 30,000 signed petitions from small business owners and thousands of Canadians have signed an online petition to oppose the idea over the past several months. The Federation's efforts are focused on the upcoming meeting of finance ministers in December 2013, which may decide on future CPP expansion.
CFIB's campaign on pensions can be found at: www.cfib.ca/cpp-qpp
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:
or to arrange an interview with Dan Kelly, contact Gisele Lumsden at 416 222-8022 or email [email protected]