BC Liberals want to trim WorkSafeBC surplus

Small business group says it's overfunded, BCFed president calls Shirley Bond announcement 'outrageous'

WorkSafeBC charges employers insurance premiums to finance benefits paid to injured workers.

A re-elected BC Liberal government will put a cap on WorkSafeBC’s surplus premiums and return excess funds to employers who pay into the agency’s injury fund, Jobs Minister Shirley Bond says.

Bond said Wednesday she doesn’t have a figure yet on how much money WorkSafeBC should have on hand in its accident fund, but an analysis will be done by June. A policy would be set when the legislature sits after the election.

“We believe the best place that additional funds for employers would be in their businesses,” Bond said. “So as we see the surplus in the accident fund increasing, we want to be sure there is a mechanism of policy and explicit direction that at a particular point there would be a return of funds to employers in British Columbia.”

The Canadian Federation of Independent Business has been pushing for the policy, citing similar measures in Alberta and Saskatchewan. CFIB says that by 2015, WorkSafeBC’s assets exceeded liabilities by $4.5 billion, making the fund nearly 40 per cent “overfunded.”

“Small business owners care deeply about their employees’ safety and understand the importance of WorkSafeBC being adequately funded,” CFIB vice-president for B.C. and Alberta Richard Truscott said in a statement. “However, being significantly overfunded is unfair to employers.”

Truscott said CFIB has met with WorkSafeBC multiple times on the issue and delivered petitions supported by 1,700 small business owners.

BC Federation of Labour president Irene Lanzinger called the proposal “an outrageous political move” at a time when more needs to be done to ensure worker safety.

“The money that the government and employers are appropriating should instead be used to improve benefits for workers killed an injured on the job that were slashed by the BC Liberals,” Lanzinger said.

WorkSafeBC reports that the provincial injury rates have been declining in recent years. Base premium rates for employers were increased in 2013 and 2014.

 

Just Posted

UPDATE: Parks Canada confirms bags washing up around Tofino and Ucluelet came from Omega Pacific barge incident

Jane Bay farm in Barkley Sound has been at this location for over thirty years.

Vibrant surfboard mural pops ups in Ucluelet

Life-sized wall of boards aims to inspire people to play outside.

Tofino and Ucluelet consider potential ice rink facility five years after referendum

“We just want to make sure we’re doing the best we can with the limited dollars that people have.”

Plastic bag spill exposes gruesome collage of ocean pollution around Tofino and Ucluelet

“All of this stuff is washing up on our beaches everyday.”

SUV crashes through art gallery in Ucluelet

“It looks like the vehicle, which was a standard, had either popped out of gear or not been in gear.”

VIDEO: Rare comic showing Superman’s 1st appearance to be auctioned

The 1938 comic features Superman hoisting a car over his head

David Cassidy, teen idol and ‘Partridge Family’ star, dies at 67

Cassidy announced earlier this year he had been diagnosed with dementia

Vigil held for woman whose remains were found on Shuswap farm

Family and friends remember Vernon resident Traci Genereaux and along with five other missing women

Brewers create anti-fascist ale

Not For Nazis Nut Brown Ale made in the Shuswap will be ready in time for Christmas

LETTER: Jumbo Valley is part of Ktunaxa territorial claim

Ktunaxa Nation Council responds to Tom Fletcher column

3,800-plant grow-op busted on First Nation reserve

Three men face charges after RCMP bust a large drug operation on the Soowahlie Reserve near Chilliwack

VIDEO: Government approves funding of $750,000 drug for B.C. woman

Approval comes one day after province announces funding for Soliris on a case-by-case basis

B.C. boy’s social media bid to get levidrome in the Oxford dictionary goes viral

‘It’s been five weeks and has totally blown up today.’

Whistler venues could see 2026 Olympic action

Calgary is looking to cut down on costs

Most Read