Oct. 5, 2010 - The Retail Council of Canada (RCC) commends the Minister
of Finance and the Government of Canada for limiting the 2011
employment insurance (EI) premium increase to $0.05 for employees and
$0.07 for employers. This is welcome news for retailers and their employees as they anticipated much higher EI rates in 2011.
"Retailers are happy the government has listened to their concerns and reduced the level of EI increases during a time of fragile economic recovery," says Diane J. Brisebois, President and CEO of Retail Council of Canada. "Though not the freeze we were looking for, this is a reasonable increase that will help minimize the impact on our members and an economy that is still struggling to regain its footing following the recession."
RCC was also encouraged by the announcement that a review of the EI system will be undertaken and that limits will be placed on future increases. This will provide retailers with a greater incentive to retain current employees and to add jobs in future, which is critical to stabilizing the country's economy.
"We appreciate the government's leadership on this issue," adds Brisebois. "Scaling back these increases will save Canadian businesses over $640 million in 2011, putting them in a better position to hire and retain employees."
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