CFIB calls on Ottawa to introduce a lower EI premium rate

The Canadian Federation of Independent Business (CFIB) is calling on Ottawa to introduce lower rates or credit for small businesses following news the federal government approved the proposed increase on employment insurance (EI) premium. In a release, the federation has expressed its disappointment on the approval of the premium hike. It noted the hike will cost businesses and employees $1.4 billion next year. “The EI premium hike will further drive up the cost of doing business for Canada's small businesses while shrinking the paychecks of Canadian workers,” the federation said in its statement. Ottawa, in the spring federal budget, has indicated the EI rates do not need to be increased because of the strength of Canada’s labor market.