This is the culmination of a long time goal and request of the Ontario Chamber Network, including your Peterborough Chamber of Commerce.
According to the government, the WSIB will be able to cut the average premium rate for employers by almost 30 per cent, starting January 1, 2019. The rate reduction is the result of the elimination of the unfunded liability.
We welcome this announcement and the opportunity to reinvest in business and our Ontario economy. WSIB is often mentioned by our local businesses as a system that takes time and reinvestment opportunity away from their business.
“Premiums come out of the pockets of business owners. Today’s news means that this money saved can be better spent on job creation, new technologies and infrastructure, and better, safer workplaces," said Rocco Rossi, President & CEO, Ontario Chamber of Commerce.