EI changes could mean little to Toronto small business
Finance Minister Joe Oliver announced sweeping cuts to employment insurance costs for small businesses across the country Thursday, but one Toronto business says the changes will do little to help improve their bottom line.
The government made the move in an attempt to kick start sluggish job growth numbers, and it will see an average drop of 15 per cent in EI costs for individuals businesses.
MIchael Cranwell, manager at Duke's Cycle on Queen Street W. told CBC News the changes are "insignificant" and won't influence his hiring process.
"When I spread it over the course of 365 days, if I'm looking at a full-time employee, it's not even a cup of coffee," Cranwell said.
"I'm going to hire the people I want to hire, when I want to hire them, when I have to hire them."
Watch Mike Crawley's report on the changes to EI and how it might effect small businesses in Toronto above.
