TORONTO (September 24, 2019) — Canadian Manufacturers & Exporters (CME) congratulates the Government of Ontario and the Workplace Safety and Insurance Board (WSIB) for today announcing further reductions to the costs of the program on businesses for 2020.
“The costs of running a business in Ontario are amongst the highest in North America. Improving business competitiveness by reducing costs is critical to get the manufacturing sector back on track. It would enable manufacturers to attract more investment, create high-paying jobs, and grow their value-added manufacturing base. Reducing the cost of WSIB premiums for employers is a step in the right direction.”
“The New Rate Framework Model, which WSIB is set to implement in January 2020, will allow employer premium rates to more accurately reflect their true accident costs. CME has worked closely with WSIB for more than 5 years in advocating for reforms on behalf of manufacturers. We call on the government to implement the new rate settings without delays.”
In 2018, CME released Industrie2030 Ontario, a roadmap to create the right conditions to support the doubling of manufacturing output in Ontario to $600 billion by 2030. Reforms to the WSIB’s Rate Framework Model are key amongst the solutions put forward by manufacturers.
Canadian Manufacturers & Exporters (CME) advocates for and represents 2,500 leading manufacturers that operate across Canada. Manufacturing moves Canada and is the engine of the economy. Canadian manufacturers collectively employ 1.7 million Canadians and is responsible for two-thirds of Canada’s export sales. The sector is growing rapidly. In 2018, the sector reached a new all-time high of $685 billion in sales. CME advocates policies that will allow Canadian manufacturers to compete effectively in the global economy.