With employment insurance and Canada Pension Plan hikes set for 2023, the Canadian Federation of Independent Business warns that some businesses will struggle to meet payroll.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Over half of small businesses across Canada have not returned to normal levels of revenue, according to the CFIB, which noted 58% are also still carrying pandemic-related debt averaging more than $114,000. CFIB is asking Ottawa to work with the provinces to freeze or offset the upcoming 2023 CPP hikes, freeze the 2023 EI increases or introduce a refundable credit, similar to the 2015-16 Small Business Job Credit.Article content, so business owners can share their concerns with the upcoming payroll tax increases.
Freeland said in September that the EI premium increase will amount to about $31 a year more for the average worker. Conservative Leader Pierre Poilievre has accused the government of making the economic situation worse with these increases and demanded that the Trudeau Liberals rescind them.
Maybe they’ll finally stop voting Liberal, no sympathy
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