...is an unemployed person in BC less hungry than an unemployed person in Newfoundland?
FP Comment: Reform EI now
August 10, 2010 – 9:07 pm
Postmedia News
Job seekers in Edmonton. Increased EI
premiums would be another burden
on workers.
premiums would be another burden
on workers.
political dynamite. Instead, Ottawa should
change the program
By Jack M. Mintz
The real test for the federal Conservatives this coming fall will not be the “voluntary long form census” but a topic far more important to most people: Whether the government can deliver on its promise to restrain taxes. At play are payroll taxes that are slated to rise in the coming years.
With higher unemployment benefits as a result of the Great Recession, EI premiums would normally have been raised to cover program costs. However, as jobs disappeared in the late fall of 2008, killing jobs with higher payroll taxes simply was not in the cards. The government held the line on premiums but, as the economy slowly recovers, payroll taxes will surely rise in the next few years.
On top of this, Jim Flaherty, Minister of Finance, has committed to “modestly” increase payroll taxes on a fully funded basis to provide more retirement support for employees. CPP premiums will especially have to increase for younger workers if they are to have adequate retirement income in the years to come.
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