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Statement from Minister of Finance Urging Passage of Bill 105, Supporting Small Businesses Act

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Statement from Minister of Finance Urging Passage of Bill 105, Supporting Small Businesses Act

Ministry of Finance

Today, Charles Sousa, Minister of Finance, made the following statement on the need to pass the Supporting Small Businesses Act in December, to enact payroll tax cuts for small businesses on Jan. 1, 2014:

"I'm calling on all opposition members to pass the Supporting Small Business Act in this session.

With the house returning today for the final four weeks of the fall legislative session, I'm asking the Opposition and Third Party to stop the delays and help us support our economy by passing the job-creating Supporting Small Businesses Act before the house rises in December.

Bill 105, the Supporting Small Businesses Act, is an important part of our economic plan to invest in people, build modern infrastructure, and support a dynamic and innovative business climate.

This Bill, provided it passes, will help 60,000 small businesses, charities and not-for-profits grow and save more money by cutting payroll taxes effective January 1. Almost 90 per cent of private-sector employers would be exempt from paying the Employer Health Tax. This would save them up to $975 annually.  More than 12,000 employers would no longer pay the tax at all.

The change will cut costs and reduce paperwork, allowing businesses to use their savings to re-invest in their company or hire more staff.

Businesses, and our economy, will only benefit from this measure if the Opposition works with us to pass legislation this fall. Despite unanimous support in the legislature, the Opposition and Third Party are stalling the bill, putting help for small businesses at risk.

If the Opposition blocks Bill 105 from passing before the house rises in December, small businesses in Ontario will be forced to pay higher taxes as soon as February 15, 2014. The uncertainty and burden of a delay by the Opposition will make it more difficult for these businesses to hire additional staff and invest in our province.

I'm particularly dismayed by the actions of the Official Opposition. The Official Opposition stands in the House daily, claiming to support legislation that will help the economy, yet they have stopped the bill from moving forward.

Ontarians expect, and deserve, leadership from all parties. There is much we can accomplish to help our economy grow in the coming four short weeks, provided we work together for the benefit of Ontario over party politics."

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