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Earlier today, the government announced that it is freezing the Employment Insurance (EI) rate at the 2013 level of $1.88 per $100 of insurable earnings for 2014, and the rate will be set no higher than $1.88 for 2015 and 2016.

Today’s announcement of an EI rate freeze is welcome news for Canadian businesses from all over the country, especially small and medium size businesses. This will keep hundreds of millions of dollars in the pockets of employers and employees which should benefit the Canadian economy and enable businesses to invest in staff improvement and growth initiatives.

The change is expected to save employers and employees $660 million in 2014, relative to a 5-cent increase to $1.93 that had previously been anticipated.

As stated by the Minister, this tax relief will help support Canada’s continued economic recovery and sustained, business-led, long-term growth. This is good news for our members across Canada.

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