Mr. Speaker, our government understands that small businesses create jobs and support families and our communities. That is why we froze EI rates for three years, saving job creators and workers $660 million in 2014 alone. We have taken further action with the new small business job credit which will lower EI payroll taxes by 15% and save small businesses over $555 million over the next two years.
Beginning in 2017, premiums will be set according to a seven-year break-even rate, ensuring that premiums are no higher than they need to be.