Thank you, Mr. Speaker. I would be happy to ask the governance council to review the situation and the classifications. I think it is important that everybody understand that WCB is a non-profit insurance program. What they do is group employers together, collect the premiums from them in order to pay for injured workers' pensions and medical requirements. This isn't a situation where the WCB would be pocketing the money. One of the reasons that the rates have gone up over the past few years is also because, in the year 2000 through 2003, the WCB was in a surplus position so they had 125 percent of the funds that were acquired. So they were operating up to a 30 percent discount on the rates in order to bring their surplus down. Obviously, as they bring their surplus down to the position they should be in, that means that the discount disappears. So there has been a significant reduction in the discount which people who are paying the rates would see as increases. Thank you, Mr. Speaker.
Charles Dent on Question 359-15(4): High Operating Costs Of Small Businesses
In the Legislative Assembly on February 8th, 2006. See this statement in context.
Return To Question 359-15(4): High Operating Costs Of Small Businesses
Question 359-15(4): High Operating Costs Of Small Businesses
Item 6: Oral Questions
February 7th, 2006
Page 846
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