A recent survey by the CFIB (Canadian Federation of
Independent Business) has revealed that businesses are unhappy with the Ontario
government’s policies, which they believe will add to the already bleak
economic outlook. The economy already has a lot of other worries, particularly
the housing market slowdown, which will not only affect home sellers but also
have a negative impact on mortgage lenders.
According to the Global
and Mail report, the survey covered about 3,400 respondents. 58% said they did
not have high hopes for Ontario’s economic future, especially in light of the
government’s provincial policies. The government’s electricity policy, in
particular, the time-of-use metering was criticized by 69% of the respondents.
CFIB’s Ontario vice-president Satinder Chera commented that
though the government couldn’t be blamed for all the challenges facing the
province’s economy, businesses believed government policies were exacerbating
the problem and further weakening the economy.Apart from increasing energy costs and HST (Harmonized Sales
Tax) introduction, small businesses were concerned about minimum wage hikes as
well as rises in environmental levies and fees.
Mr. Chera said that 87% of the respondents also didn’t feel
like they were getting a clear picture of the economic challenges faced by the
province. He added that the government can regain its credibility by offering
small businesses the necessary tools they need to retain and create jobs at the
forthcoming Economic Statement. The government can consider exempting small
businesses from time-of-use metering and introduce other measures related to
the HST and payroll taxes.
