Workers compensation rates have become a nightmare for the business community according to the Greater Moncton Chamber of Commerce.
Worksafe NB has announced the rates for employers will jump by 15 percent in 2018 and another increase is expected in 2019.
Chamber CEO Carol O’Reilly says businesses are already paying enough in taxes and the ever-climbing rates have become another burden.
“With the rate going up from $1.48 per $100 (of payroll) to $1.70 per $100, it’s just going to have a very negative impact on the business community,” she believes.
Public hearings on workers compensation rates will be held later this month and O’Reilly says the Chamber of Commerce will be there to speak out against the rapidly rising costs.
O’Reilly questions whether legislative changes are needed that will make the system more realistic and handled better than what is currently happening.
