Business group urges Ottawa to delay hikes to EI and CPP rates but economists say it’s necessary

Canadian workers could see up to $305 less in take-home pay next year due to the increase in payroll deductions set to kick in on Jan. 1.up from 5.70 per cent in 2022.

“It may not seem like a lot,” said Kelly, but he added that $300 can cover the cost of family’s groceries, transportation and/or utility bills. Robert Maich, owner of the hair salon chain The Golden Razor, in Windsor, said the bump in EI and CPP contributions will hurt his business, as labour accounts for two-thirds of overall costs.

Over the past five years, CPP maximum annual increases have ranged from a low of $149 in 2020 to a high of $333 in 2022. The EI increase is “quite low” and similar to 2019 levels, he said. The government is also raising pension contributions because many employees aren’t offered a company pension plan, meaning CPP is all they have in retirement, Macdonald said.

They are trying real hard to take away the middle class!

Necessary? Surplus goes into government coiffures not back into EI or CPP. Government wants more tax dollars

Luckily Trudeau and Singh are going to triple the carbon tax to finish emptying your pockets! Thank an easterner today for re-electing them. Buy nothing from the east, hire no one from the east.

CdnscannotaffordLiberals cafreeland

Add this to this year's increase of 1000 per month for 2022 cost of living and an added increase of 1200,00 plus in 2013 for another increase in food costs. Many Cdns do not have the extra 2000+ left from their annual incomes to cover those costs. Out of control! cdnpoli

When you retire you will be glad of the extra CPP! Many people have 0 pension saved! IStandWithTrudeau

But Trudeau will tell us this tax will make us all richer.

JustinTrudeau having Canadians backs once again 👍

Some sectors are booming and the Trudeau government continues to give them huge privileges. What will it take for them to change?

Is that per paycheque? Good thing people got $500 to help with the rent

Sickening. Shame on JustinTrudeau and cafreeland as there is no need for this hike in EI premiums.

That would require the liberals to actually care about Canadians, which they don't.

Half our income goes to tax. Then property tax, 13% on everything etc. This is friggin crazy.

It’s get to the point of theft. Especially considering the services that are meant to be provided by the government continue to degrade.

Now do the math with compounded interest of the positive effects of future benefit payouts.

When you own nothing you will be happy!

The hits keep coming from this federal government.

Carbon tax

More 'making life more affordable' from JustinTrudeau and his liberal_party ! Don't worry though he stays in the finest $6,000 hotel rooms and caters his flights with $100,000 of the finest meals so we don't have to everyone!

Trudeau is worst Prime Minister ever.

Every action points towards the destruction of working class. Dependant people are easy to control

Protecting the middle class workers say what!

When one has a govt that spends frivolously & endlessly, it is necessary to raise taxes. Yet the TorStar continues to proactively support Trudeau’s unethical, highest spending govt in history. Why does a socialist paper support corrupt, irresponsible czars over the people?

Last years increase was not enough? Yikes!

Increased EI and CPP costs are passed on to the consumer by businesses via rate hikes or price of good hikes --- more inflation caused by the government will result in another bank rate hike which will cause more inflation.

CPP needs more money to invest in fraud crypto schemes. Pay up

Let's send another 100 million to Ukraine while Canadians suffer. Let's support Canada.

Business v. Labour…

We need a better system to fund these programs than the current one. Right now, workers need relief, not even more added costs.

Judges, lawyers and cops are proof that there is no rule of law in Canada. They do things that would put normal people in jail or have consequences. Local media has ignored this problem ruthlessly and helped these bad actors stay hidden. For example:

Business groups are worried that grandma might not be enticed into that part time McJob.

Thank goodness the Cons are not in power or we ordinary Canadians would be in dire straights.

Increasing costs for businesses and the employee... killing jobs and opportunities, that's the LIbEral way. Plus increasing carbon taxes to increase costs. Killing energy east Looks more like sabotage to create more chaos and public debt. WorstPMEver TrudeauIsDestroyingCanada

Follow the economists and not the self interest of business.

So we’re being told that employment is at an all time high. We need 700,000 TPWs/year. This means EI collection is at an all time high. So why do ‘economists’ say it needs to rise?

“Economists”

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Business group calls on Ottawa to freeze higher EI, CPP premiums planned for new yearOTTAWA — A small business group is calling on the federal government to freeze upcoming increases to Canada Pension Plan and employment insurance premiums. The Canadian Federation of Independent Business says the higher payroll deductions planned for the new year will reduce the take-home pay of Canadians at a time when inflation is already eroding spending power. The group says few small employers are in a position to increase wages to offset rising premiums. It says businesses are also facing CFIB Sunny 😎 ways.
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »

Independent business group calls for freeze to EI, CPP premium increases - National | Globalnews.caThe higher payroll deductions planned for the new year will reduce the take-home pay of Canadians at a time when inflation is already eroding spending power, they say. Forgive me if I think the CFIB doesn't give two sh*ts about Canadian workers' take-home pay or household income. They certainly don't care about workers' retirement security or social safety net.
Herkunft: GlobalNational - 🏆 81. / 51 Weiterlesen »

Small business group sounds alarm over EI and CPP increasesWith EI and CPP hikes set for 2023, the Canadian Federation of Independent Business warns some businesses will struggle to meet payroll. LizBraunSun Typical Liberals. Killing small business one day at a time! LizBraunSun Maybe they’ll finally stop voting Liberal, no sympathy LizBraunSun This can wait
Herkunft: TheTorontoSun - 🏆 23. / 68 Weiterlesen »

Small business group sounds alarm over EI and CPP increasesWith EI and CPP hikes set for 2023, the Canadian Federation of Independent Business warns some businesses will struggle to meet payroll. Maybe they’ll finally stop voting Liberal, no sympathy
Herkunft: ottawasuncom - 🏆 4. / 92 Weiterlesen »

Business group calls on Ottawa to freeze higher EI, CPP premiums planned for new year - BNN BloombergA small business group is calling on the federal government to freeze upcoming increases to Canada Pension Plan and employment insurance premiums. Why?
Herkunft: BNNBloomberg - 🏆 83. / 50 Weiterlesen »