Employment Insurance Rate Freeze-Good News for Lambton-Kent-Middlesex

Your Conservative government has announced that Employment Insurance contribution rates that employers and employees pay will be frozen for the next three years. This means that businesses and their employees in Lambton-Kent-Middlesex will be keeping more money in their pocket to buy the things they choose for their families. It is also great news for our local economy – especially our small businesses. Your money is always better in your pocket. Freezing EI premiums will have no effect on benefits which is good for those who through no fault of their own find themselves without a job.

Our Government, like no other before, understands that small business is the cornerstone of our economy, creating jobs that support families in our communities. That’s why we have introduced numerous measures to help them out, like a hiring credit for growing small businesses that expand their workforce.

Little wonder small business has been such a key part of Canada’s recovery from the recent global economic downturn. In fact, with the help of small businesses, Canada has created over one million new jobs since the end of the global recession – the best record among all the G-7 countries. Just last month the Canadian economy created a whopping 59,000 new jobs and the unemployment rate fell to a post recession low of 7.1 percent.

But as we all know, the global economic recovery remains challenging. That’s why our Government is staying focused on the economy. One way we’re doing that is the three-year freeze on EI rates. This means rates for employees and employers will stay at or below the 2013 level ($1.88 per $100 of insurable earnings) until 2016. This will leave $660 million in the pockets of job creators and workers in 2014 alone, compared to what they would have otherwise had to pay under the projected formula. This means more money stays in Lambton-Kent-Middlesex, helping support our local economy.

The record is clear and the evidence shows that our government continues promoting a positive plan for the economy, as that’s what Canada needs.

Bev Shipley, MP Lambton-Kent-Middlesex