One would normally expect an opinion piece to shed some accurate information on an issue. Laura Jones, executive vice-president of the Canadian Federation of Independent Business, sounds more like an apologist for the Harper reformers who have no appetite for improving Canadians’ retirement prospects by increasing benefits from the Canada Pension Plan.
Instead she trots out the notion that it is a payroll tax, much like Stephen Harper’s offensive minister Pierre Poilievre has done recently, even though former governor of the Bank of Canada and former deputy finance minister David Dodge scoffed at that opinion.
CPP, to be clear, is a partly pre-funded pension system provided through the co-ordination of the federal and provincial governments. It has been cited many times as an example of an excellent part of a retirement scheme for other countries to consider.
Given the declining rates of pension coverage for working Canadians, Jones should be careful what she wishes for as many of her members’ businesses are dependent on the spending of those pensions across all communities.