The Canadian Federation of Independent Business is speaking out against the planned increase in employment insurance premiums.

The employment insurance premium rate for 2024 will be set at $1.66 per $100 of insurable earnings for employees and $2.32 for employers.

For 2023, the contribution rate reached $1.63 per $100 for employees and $2.28 for employers.

When it published, in mid-September, the actuarial report on these rates, the Employment Insurance Commission explained that a balance rate must be found over a period of seven years between contributions and employment insurance expenses. However, at the height of the COVID-19 pandemic, there was more unemployment, and therefore the payment of more benefits. Everything must therefore be restored, explained the Commission.

But the Canadian Federation of Independent Business (CFIB) would have liked a respite to be given to small and medium-sized businesses, by at least freezing contributions, or even introducing a reduced rate for SMEs.

“A tax increase at this time, when there are many businesses struggling to make ends meet, this is not the approach that the government should take,” said Jasmin Guénette in an interview. , vice-president of national affairs at CFIB.