The government plans to cut employer Workplace Safety and Insurance Board (WSIB) premiums $2.4 billion per year. This is funded by cuts to workers compensation, as discussed below. Here's the plan to cut employer premiums laid out in the 2016 Budget documents: The WSIB has taken significant steps to reduce costs, and its finances have been improved by growth in investment returns and insurable payrolls. After hitting a high of $14.2 billion in 2011, the unfunded liability was $6.8 billion as of the WSIB’s 2015 third quarter that ended September 30, 2015. Due to progress made to date, employer premiums have not been increased for three years. In its ‘2015 Economic Statement,’ the WSIB estimated that when the unfunded liability component is removed from the premium rate, it will be able to deliver $2.4 billion annually in premium reductions. This would represent an average premium rate reduction of about 40 per cent, with the average premium rate declining from $2.46 per $
Notes from Leftwords -- Doug Allan