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Passage of ORPP Legislation a Blow to SME Manufacturers

Published by Marie Morden on June 03, 2016

CME continues to sound the alarm about escalating costs facing Ontario manufacturers in light of the passage of the Ontario Retirement Pension Plan legislation.

"This is another new cost of doing business in Ontario that does not exist in competing jurisdictions," said Ian Howcroft, Vice President, CME Ontario. "We talk to so many manufacturers that are reaching their breaking point in Ontario. When you look at increased costs associated with the ORPP; then add in new costs for Cap and Trade, higher electricity rates and a mountain of other regulations - it's causing many Ontario companies to re-think their future plans for Ontario. All of this is very concerning and we need government to respond in a big way."

CME is calling on the government to reduce the cost of doing business for manufacturing commensurately.

"If you're not going to make the necessary changes to the ORPP to make it feasible for manufacturers - there needs to be some reductions elsewhere in the system," add Howcroft. "We were pleased that the government made the prudent decision not to make the ORPP Universal. However, the definition needs to be expanded to include more defined contribution and other types of capital accumulation plans."

CME has called for a further expansion of the definition of comparability and offsets for companies that would face a new cost of business.

For more information, contact:

Ian Howcroft
Vice President, CME Ontario
416-419-6119
ian.howcroft@cme-mec.ca

 

Found in: Passage of ORPP Legislation a Blow to SME Manufacturers: CME

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