Ontario to Return Over $2.5 Billion to Workers and Businesses Through WSIB Rebates and Fee Reductions
TORONTO – The Ontario government has announced a significant financial relief package that will return more than $2.5 billion to workers and businesses across the province. The initiative includes Workplace Safety and Insurance Board (WSIB) surplus rebates, business premium rate cuts, and investments in health and safety programs, aimed at reducing costs for employers while supporting worker well-being.
Premier Doug Ford emphasized that these measures are part of the government’s commitment to fostering economic growth and job creation. “We’re laser-focused on keeping costs down for workers and businesses in Ontario, putting more money back into people’s pockets, and helping create better jobs and bigger paycheques,” Ford stated.
Big news for Ontario workers and businesses!
At today’s @OntarioCofC Economic Summit, I announced that we’re handing back $2.5 billion through fee reductions and WSIB rebates. That’s money that will help more apprentices get into the skilled trades, improve workplace health and… pic.twitter.com/L4alGbaZRg
— Doug Ford (@fordnation) November 21, 2024
Key Highlights of the Initiative
- WSIB Surplus Rebates: Starting in February 2025, $2 billion in surplus funds will be returned to eligible businesses. Employers who maintain a safe workplace, with no more than one conviction under workplace safety legislation since 2020, will qualify. Small businesses could see significant savings, with an example construction company employing 50 people potentially receiving $46,000 in rebates.
- Lower Premium Rates: Effective in 2025, the WSIB will reduce the average business premium rate from $1.30 to $1.25 per $100 of insurable payroll. This move will save businesses an estimated $150 million annually while preserving worker benefits. Since 2017, WSIB premium rate reductions have generated cumulative savings of $18.6 billion for Ontario businesses.
- Health and Safety Investments: The government will unlock $400 million for health and safety initiatives, including expanded mental health care services through partnerships with 11 public hospitals and community providers. This investment aims to support injured workers’ recovery and return to work.
- Apprenticeship Fee Removal: The $150 fee for apprentices’ first Certificate of Qualification exam will be eliminated, saving each apprentice at least $330. Nearly 11,000 apprentices are expected to benefit, with total savings of $3.6 million annually.
- Safe Business Bonus: A new $1,000 bonus will be introduced for businesses enrolled in the WSIB Health and Safety Excellence program that create and implement approved workplace health and safety plans. Over 4,600 businesses are currently enrolled in the program, which has already awarded $68 million in rebates since 2019.
Building a Competitive Workforce
Labour Minister David Piccini highlighted the broader impact of the government’s actions, stating, “By putting more money back into workers’ pockets and promoting the trades as a viable career, we are building a stronger workforce.”
These measures build on the five previous Working for Workers Acts introduced since 2021. The government plans to unveil additional actions in the coming weeks to expand Ontario’s workforce, reduce costs, and enhance support for workers and families.
The initiatives align with Ontario’s long-term vision to strengthen its economy, attract investment, and ensure the province remains a top destination for living, working, and raising a family.
