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CFIB welcomes WCB refunds

['Erin McGrath-Gaudet, director for P.E.I. and intergovernmental policy, Canadian Federation of Independent Business, says business trends for 2015 are showing some reasons for optimism.']
Erin McGrath-Gaudet, Canadian Federation of Independent Business.

The Canadian Federation of Independent Business is applauding a Workers’ Compensation Board decision to reduce rates and refund premiums.

Erin McGrath-Gaudet, CFIB director for P.E.I., said the WCB’s annual report showed it was over funded.

“With that in mind, we felt it was important to see money going back to employers since they pay the full cost of the system,” she said.

The CFIB wrote the board in August to formally request it consider a surplus redistribution this year.

McGrath-Gaudet said payroll taxes and premiums are a significant cost for small businesses.

“Getting a refund is certainly welcome news, particularly in industries where rates are higher,” she said.

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