A survey reveals that the Canadian Federation of Independent Businesses oppose the doubling of the CPP
A recent survey by the Canadian Federation of Independent Businesses reveals that 71 percent of small business owners are against a mandatory doubling of Canada Pension Plan premiums and benefits.
The president of the CFIB, Catherine Swift said that the proposed increase in premiums would take too large a toll on Canada's small business community.
"Proposals by unions to double CPP would serve as a major job killer as economists worldwide recognize that payroll taxes are a drag on job growth and economic development," said Swift. "Entrepreneurs already pay double the rates of other Canadians and they would be faced with massive increases if this option is considered."
The CFIB recently sent letters to finance ministers accross the country asking them to take into account the negative repercussions of the proposed pension plan increase. The group took issue with the government mandating how they handled employees retirement savings and asked them to "offer incentives and remove impediments to boost coverage" instead.
Despite the CFIB's concerns over government mandates, a recent survey by the group found that small businesses were gaining confidence. The federation's Business Barometer index rose to 67.3 in May, about a full point higher than its reading in April.
