Ontario businesses want minimum wage fairness

Businesses want the Ontario government to adopt a predictable, transparent, and fair process for determining the province’s minimum wage, says the Ontario Chamber of Commerce in a new report.

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The chamber of commerce wants changes in the minimum wage rate to be linked to the consumer price index. Right now the government makes wage decisions on its own.

This results in sudden increases in the minimum wage, and unfairly exposes employers to unanticipated increases in the cost of doing business, says the chamber.

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In a recent chamber of commerce survey, 60% of employers in the retail, hospitality and leisure sectors say an increase in the minimum wage would hurt their businesses and force them to lay off employees.

Ontario’s minimum wage of $10.25 is above the national average and it has increased 50% over the last 10 years.

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Staff

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