Thank you, Mr. Chairman. As the Minister responsible for the Workers' Compensation Board, I am pleased to introduce Bill 11, An Act to Amend the Workers' Compensation Act, No. 3. This bill will amend the definition of the "Year's Maximum Insurable Remuneration" (also known as YMIR) to raise it from $60,000 to $63,350.

The YMIR is a fundamental element of workers' compensation. It is used to determine the benefits payable to an injured worker, as well as the amount of payroll for which an employer will be assessed in the year.

When a worker becomes entitled to workers' compensation, his or her benefits are based on the worker's annual salary to the maximum of the YMIR, which is currently $60,000. An employer is assessed according to its payroll. When a worker receives a salary greater than the YMIR, the employer is only assessed on its payroll up to $60,000.

The WCB's board of directors has recommended that the YMIR in both Nunavut and the Northwest Territories be increased to $63,350. That will, at this point, make it the highest YMIR in the country. The Nunavut Legislature has just increased its YMIR to $63,350.

This amount will allow the WCB to fully cover the salaries of 85 percent of workers in both territories.

In light of the assessment rates which will take effect in 2001, some employers will experience a nominal increase in their assessments as a result of the YMIR increase, and some will actually experience a decrease.

Thank you, Mr. Chairman.