Local businesses need support in the form of cost relief and WorkSafeBC is in a position to offer a rebate, argue Emily Boston and Jairo Yunis
At this rate, the many challenges they are facing will swallow them whole without quick intervention and cost relief.
Yes, you read that right. $2.5 billion. That’s enough money to purchase the entire Vancouver Canucks franchise – twice. No one is questioning the need for WorkSafeBC to be well funded to support both employers and workers. The health and safety of employees has always been small business owners’ top priority. Plus, they understand the importance of having a system that ensures its financial obligations to current and future workers’ benefits. However, WorkSafeBC continues to surpass its own funding target by billions of dollars, leaving many employers frustrated with the status quo.
So why hasn’t WorkSafeBC provided a rebate? Good question. Other provinces with lower funding levels have already proved this is possible. The Canadian Federation of Independent Business ’s recent WCB report shows Ontario, Manitoba and Prince Edward Island kept rates stable while successfully distributing excess funds. For example, Ontario rebated $1.2 billion while reducing their average premium rate by 5.1 per cent.
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