Killing jobs.... 8 years and the Conservatives know S#!t about running the economy

EI Premium Cut 'A Job Killer,' Critics Say

Finance Minister Joe Oliver announced a Small Business Job Credit this week, but the move has been criticized by many economists as discouraging hiring.

It took very little time for the Small Business Job Credit, announced by the Conservative government on Thursday, to start attracting negative attention.

Many economists say the move will do little to spur hiring — and may in fact prevent it.

The tax credit reduces the Employment Insurance premiums that small employers pay. (It doesn’t change the premiums that workers pay.) For the next two years, businesses that pay less than $15,000 in annual premiums will see their premiums reduced to $1.60 for every $100 earned, down from the current $1.88. By one estimate, this will mostly apply to companies with 20 or fewer workers.