The challenge

The Fair Workplaces, Better Jobs Act, 2017 (Bill 148) is expected to increase the risks and uncertainties for many Ontario business sectors. <ul> <li>Significance: Ontario businesses will need to adjust to at least one of 64 different labour cost outcomes</li> <li>Suddenness: 15 month period with significant ambiguity yet to be resolved or tested</li> <li>Size: scheduled minimum wage changes are the largest in 45 years</li> </ul> The Bill creates a $23 Billion challenge for Ontario businesses in just the first 2 years. Putting this into perspective, the amount in play represents about: <ul> <li>21% of Ontario private business investment each year (excluding residential construction)</li> <li>100% of the corporate tax revenues paid to the Ontario government each year</li> </ul> The $23B challenge is expected to put about 185,000 jobs at risk over the coming years representing about 2.4% of all employees relative to expected employment growth. Based upon the expected behaviour of Ontario businesses the $23B challenge could be met through: <ul> <li>50% of costs reduced through employment changes,</li> <li>21% absorbed by business, and</li> <li>29% passed onto consumers</li> </ul> The independent analysis was supported by the Keep Ontario Working Coalition (KOW) and Ontario Chamber of Commerce. <ul> <li><a href="https://www.cancea.ca/wp-content/uploads/2017/11/cancea_bill148_analysis.pdf">Download Full Report: Potential Economic Impacts of the Fair Workplaces, Better Jobs Act (Bill 148)</a></li> </ul> <div class="elementor-element elementor-element-cf20230 elementor-widget elementor-widget-button" data-id="cf20230" data-element_type="widget" data-widget_type="button.default"> <div class="elementor-widget-container"> <div class="elementor-button-wrapper"></div> </div> </div>