Canada Pension Plan Increases and Job-Killing Federal Carbon Tax that Came Into Effect January 1, 2019
Ontario Ministry of Finance is standing up for the families and businesses that will be hurt by the combined impact of the federal government's job-killing carbon tax and the Canada Pension Plan (CPP) enhancement, both of which come into force January 1, 2019.
Ontario and Saskatchewan issued a joint letter in December expressing deep concern about the implementation of the CPP enhancement and the federal carbon tax. The provinces insisted the federal government conduct an updated comprehensive economic analysis and communicate the combined impact of these initiatives, particularly on small and independent businesses.
"We will not stop in our fight for Ontario businesses. Simply put, small businesses can't afford the federal carbon tax on top of higher payroll costs and our workers and businesses deserve to know what the real cost of these initiatives is going to be," said Vic Fedeli, Minister of Finance.
The federally imposed carbon tax taking effect on the same day as the CPP enhancement compounds the burden for business. The job-killing federal carbon tax will raise the price on everything from filling up the car to heating the home in the winter.
At a recent meeting of federal, provincial and territorial Finance Ministers in Ottawa, Minister Fedeli renewed Ontario's call to scrap the federal carbon tax and made it clear that this tax will make Canada a less attractive place to do business.
"Our government will vigorously protect and advance Ontario's economic interests," said Fedeli. "We will fight the carbon tax with every tool we have and will pursue ways to make sure that every person in Ontario is informed of how much they are paying in federal carbon tax — every time they pay a home heating bill or fill up their car."
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