The benefit increases get phased in over 40 years and the premium increases get phased in over five to seven years. That is going to take its toll on the Canadian economy. Again, EI will insulate a little of that in 2019; about a third of the cost increase will be covered by the EI reduction. We're pleased with the EI reduction that has been announced, but an awful lot more needs to happen if we're going to insulate small and medium-sized firms from the effect.
On September 18th, 2018. See this statement in context.