Major WSIB Rate Cut Welcome News for Ontario Construction Contractors
Toronto (Sept. 26, 2018) – A major premium rate reduction announced today by the Workplace Safety and Insurance Board (WSIB) is welcome relief for Ontario’s construction employers, according to the Progressive Contractors Association of Canada (PCA), which represents contractors across the province.
“An approximately 35 percent premium reduction for construction translates into millions in savings across all segments of our industry,” said Sean Reid, Vice President and Regional Director, Ontario, for the Progressive Contractors Association of Canada (PCA). “These savings will create new opportunities for Ontario contractors to reinvest in their businesses and create more jobs for Ontario workers. It also takes some of the pressure off construction employers who’ve been burdened with rising materials costs in recent months, due to the ongoing tariff dispute with the United States.”
The WSIB rate reduction will go into effect next year.
“This is an important step in ensuring Ontario’s construction industry and overall investment climate remain competitive,” added Reid. “It’s also a significant achievement for the WSIB, which has succeeded in eliminating its unfunded liability almost a decade ahead of schedule.”
About the Progressive Contractors Association of Canada (PCA)
PCA is the voice of progressive unionized employers in Canada’s construction industry. PCA member companies are leaders in infrastructure construction across Canada, employing more than 25,000 skilled construction workers who are represented primarily by CLAC. PCA promotes fair and open construction tendering in ALL Ontario municipalities.
For further information, contact:
Danna O’Brien, Danna@obriencommunications.ca 416-500-0699