Low job growth a problem small firms can help fix

If the federal government wants to grow the economy and get job numbers back on track, it should adopt the solutions recommended by the small business community, says the Canadian Federation of Independent Business (CFIB).

The CFIB presented its top pre-budget priorities in a recent meeting with federal Finance Minister Jim Flaherty.

Read: OSC adding members to small biz committee

“The latest job numbers show how fragile our economy continues to be,” says CFIB president Dan Kelly. “Small business can be a big part of the solution, but needs government to help create the right environment for growth.”

Key budget priorities for small business include:

• Small business tax rate: lower the rate from 11 to 9% over time – starting with a 0.5% decrease in 2014.
• EI hiring and training credit: recognize the costs of on-the-job training done by small business by retaining the Hiring Credit.
• Public sector pensions: end the bridge benefit and phase-out early retirement.

Read: CRA launches plan to help small biz

In addition to keeping the focus on eliminating the deficit by 2015 by restraint on public sector compensation, benefits and pensions, CFIB asked the Minister for early help in addressing rapidly rising credit card processing fees for merchants and consumers.

Red tape Awareness Week starts Jan. 27. CFIB’s full pre-budget submission is available here.

Read: Tough year ahead for firms, says IIAC

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.