PCs slam Ontario Pension Plan as a "jobs tax" that would lead to losses in the private sector

Blasting the Ontario Pension Plan as a "jobs tax" a local Progressive Conservative candidate up for re-election is warning that demanding matching contributions from employers would cripple Ontario's economy.

The PCs argue as many as 150,000 private sector jobs could be lost if the Liberals' plan goes ahead.

"The Ministry of Finance calculated that for every $2 billion increase in Ontario payroll taxes 18,000 people would lose their job," said Nepean Carleton PC candidate Lisa MacLeod, saying she was quoting internal, confidential government documents.

She said her party isn't alone in being opposed to the Liberals' plan.

"The Ontario Chamber of Commerce, the Retail Council of Canada and the Canadian Federation of Independent Business have all expressed their concern with a new payroll tax. And, in fact, they are the vast majority of businesses and job creators in this province," said MacLeod.

She said those bodies are extremely concerned and opposed to the proposed pension plan.

The Liberals announced their intentions to create an Ontario Pension plan after calls to overhaul the Canada Pension Plan failed.

Contributions under the proposed Ontario Pension Plan would amount to $788 a year for a person making $45,000; $1,263 annually for a person making $70,000; and $1,643 per year for someone earning $90,000.

Anyone with a comparable workplace pension would be able to opt out of making contributions.

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