Small Business Reaction to 2018 Ontario Budget

TORONTO – The Canadian Federation of Independent Business (CFIB) is disappointed that the provincial government missed another opportunity to directly offset the rising payroll costs for small business as a result of the recent minimum wage hike and labour reforms. Instead, the province has decided to embark on a pre-election spending spree, abandoning any spending restraint and fiscal discipline. In a budget that is positioned to be all about care and opportunity, the government talks about how not enough people are feeling the benefits of Ontario’s economic growth. “Many small business owners count themselves in that category, faced with an historic hike in labour costs, high hydro bills, a carbon tax, and increased CPP and EI costs,” said Plamen Petkov, CFIB’s Ontario Vice-President. “The 2018 Ontario budget doesn’t go far enough to directly alleviate these pressures.”