September 16, 2013

Freezing Employment Insurance (EI) Premiums

Small savings can add up to big bucks. You may have heard about the Employment Insurance (EI) rate freeze our Conservative government has just announced. Here is what it means. If you were earning $30,000 a year in 1997, you would have paid about $900 a year in premiums. If you are making $30,000 a year in 2013, your premiums are just $564 a year and the freeze will keep them at that level for the next three years. That's more than $1000 in your pocket over those three years to save, spend or invest as you see fit. For employers the savings total $600 million a year and that is money they can use to pay increased wages and create new jobs. It’s just another example of the kinds of things our government is doing to grow the economy and help create more than 1 million net new jobs since 2009.

Canada’s Financial System Gets Top Marks

The World Economic Forum has rated Canada’s financial system the safest and soundest in the world. It’s great news made even better because this is the 6 ^th year in a row that our country topped the list. The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.

If You’re Happy and You Know It

Another interesting survey released recently shows Canadians are also among the happiest people in the world. Canada ranks 6 ^th in the overall happiness survey, sponsored by the United Nations. A long life expectancy, high average income and robust social ties are just some of the things that keep us smiling. Personally, I see Canada as number one and everyone else a distant second!

Democracy Week

This week is Democracy Week and I’m looking forward to visiting several elementary and secondary schools in Lambton-Kent-Middlesex to talk about the importance of young people getting involved in the political process, particularly on election day. I've been speaking to students in classrooms across the riding since I was elected in 2006 and it never ceases to amaze me how aware they are of what is happening in the world around them and how much they think about solutions to the world's greatest challenges. Their enthusiasm fills me with great confidence about our future.

Opening New Markets for Canadian Resources

I wanted to let you know a bit more about the TransCanada Energy East Pipeline Project Proposal. The pipeline, still in the planning stages, would transport Western Canadian oil to Eastern Canada refineries and new markets abroad. Deloittle & Touche LLP recently reported the project would generate high-quality jobs for Canadians in every province along the pipeline route – 10,000 full-time jobs during the development and construction phase and another 1,000 during the operation of the proposed pipeline. $35 billion would be created in gross domestic products and $10 billion in tax revenues for municipal, provincial and federal governments.

Did You Know?

• EI premiums were as high as almost $3 per $100 of insurable income in 1997, yet our government is now freezing them at or below $1.88 per $100 for the next three years.
• Child poverty in Canada is less than half of what it was a decade ago. Let’s keep working at it!
• Terry Fox Runs have raised more than $600 million worldwide for cancer research.

Until next time.

Bev Shipley, M.P., Lambton-Kent-Middlesex