The Canadian Centre for Economic Analysis (CCEA), an independent research consulting and data technology firm, has released a report that outlines the economic impacts the proposed
provincial legislation known as Bill 148 is likely to have if approved by the Ontario government.
The CCEA estimates that some 185,000 jobs will be put at risk over the next two years as a direct result of the proposed legislation. About 400,000 small business owners are exposed to 46% of
the increased costs from the Act.
At least 80% of small business employers will be affected by the changes outlined in the Act, which will lead to higher costs.
The CCEA has determined that there is a $23 billion cost challenge awaiting Ontario businesses over the next two years if the legislation is passed.
As many as 1.8 million Ontario residents are expected to be negatively affected directly or through a family member small business owner or by a job loss. The CCEA estimates the additional
increase in prices will amount to an annual $3.4 billion.