Feds mislead on cost of CPP Expansion: ATIP docs show Finance overstated costs | CLC

The Canadian Labour Congress has released a Communication Note today that states the Minister of State for Finance Kevin Sorenson and his department provided misleading information to journalists dealing with the expansion of the CPP.

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The communication note states:

“€œThese claims could only be made by manipulating the facts,”? Georgetti says.

Finance ministers met in Ottawa in December 2013 to discuss > enhancements to the CPP/QPP. The Canadian Labour Congress has been > advocating since 2009 for CPP improvements which would guarantee > income security for Canadians when they retire. Prior to the December > meeting, a number of provinces, including Prince Edward Island and > Ontario, put forward a workable model providing for increases to > future CPP benefits. Those enhanced benefits would be paid for by > modest increases to the CPP premiums paid by workers and their > employers. These premium increases were to be phased in over a number > of years. > > The CLC says that on December 4 Sorensen published an article in the > Financial Post which claimed that CPP premium increases would > “€œkill€” between 17,000 and 50,000 jobs. The logic was that > employers, unhappy with the new premiums, would refuse to hire new > workers and would lay off some existing workers.

Get the full ATIP release here.