CPP increase not so “modest” according to small business

Canada News Wire
News release

The proposed Canada Pension Plan (CPP) increase may be pitched as “modest”, but small business owners are saying it’s anything but, according to the latest data from the Canadian Federation of Independent Business (CFIB).

A full 70 per cent of small business owners in a recent CFIB survey disagree with the notion put forward by finance ministers that the proposed hike is modest, with a limited impact on business.

“Try growing a business and creating jobs in a tough economy, with the constant threat of carbon taxes, minimum wage hikes and other new costs, then add seven straight years of CPP increases,” said Dan Kelly, CFIB president.

“80 per cent of small business owners say that CPP hikes will make it much more difficult for them to cope with other tax increases and increased costs. We commend the British Columbia government for joining Quebec in consulting with the public prior to finalizing any plan to raise CPP premiums.”

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