Chamber says now is not the time to introduce a new cost to doing business

The North Bay and District Chamber of Commerce says the Ontario Retirement Pension Plan could have negative consequences for the economy.

A new survey of business owners from the Ontario Chamber of Commerce shows only 26 percent believe they can shoulder the financial burden that comes with the pension plan.

It also shows 44 percent of those surveyed would reduce their current payroll or hire fewer employees in the future if faced with mandatory increased contributions under the ORPP.

North Bay and District Chamber of Commerce President Jake Lacourse says, “Our economy is still in recovery,”

He goes on to say, “Our region is no different than businesses across the province; this isn’t the time to introduce a new cost to doing business.”