REGINA, SK: The Canadian Taxpayers Federation (CTF) is calling on the Workers Compensation Board (WCB) to provide a full refund of excess cash to employers who pay premiums. According to its own policy, the WCB has $281 million more than it needs, but is only planning to refund $56 million to Saskatchewan employers.

“Whittling the refund down to small fraction of the excess cash shows callous disregard for employers in tough economic times,” said Todd MacKay, Prairie Director for the CTF. “Don’t WCB board members know that small businesses are struggling to keep from laying off staff? Don’t they understand that health regions and school board are facing tight budgets?”

“Employers across the province should be able to use this money to create jobs rather than leaving it under a mattress with the WCB,” said MacKay

The WCB essentially provides insurance to employers that are required to pay premiums so that workers can apply for compensation if they’re injured on the job. WCB is required to have enough assets to cover all liabilities and includes allowances for an additional 20 per cent as a cushion. WCB policy states rebates will be sent to employers if assets exceed the 120 per cent of projected liabilities.

WCB issued rebates to employers totalling $141 million because the fund grew to 132 per cent of projected liabilities last year.

Assets now stand at 145 per cent of projected liabilities, according to this year’s WCB annual report, and that means employers are due to receive a refund of $281 million. After the $56 million refund, the WCB will still have 140 per cent of projected liabilities.

“We all want workers to have the help they need if they’re injured and the WCB has more than enough resources to do that job,” said MacKay. “But employers are wondering – do WCB board members actually care about employers? Because if they did, they refund cheques for the full amount would already be in the mail.”

-30-

For more information, contact:

Todd MacKay, Prairie Director - Canadian Taxpayers Federation
Cell: 306-582-7717  Email: [email protected]