Finance committee One thing I could add is that the spending on the EI program is independent of the balance in the account. It's a statutory program, so benefits are paid on the basis of entitlement. If people qualify, they are able to get an entitlement, and benefits are paid on that basis. The
November 18th, 2013Committee meeting
Michael Duffy
Finance committee I'm afraid this is outside the scope of our expertise.
November 18th, 2013Committee meeting
Michael Duffy
Finance committee I think it's a different division.
November 18th, 2013Committee meeting
Michael Duffy
November 18th, 2013Committee meeting
Michael Duffy
Finance committee No, it has to have EI in it.
November 18th, 2013Committee meeting
Michael Duffy
Finance committee The seven years represents a period long enough to cover the business cycle. At one time the legislation referred to setting the rate so that the EI account would balance over the business cycle. By using seven years, this legislation sets a fixed timeframe. It's a rolling seven
November 18th, 2013Committee meeting
Michael Duffy
Finance committee That's right.
November 18th, 2013Committee meeting
Michael Duffy
Finance committee I'm not a hundred per cent on, but I think it was.... In the first couple of years, when the legislation was put in place for the CEIFB, the mechanisms for them to actually set the rate hadn't been fully established. It took a couple of years before they actually set the rate. I
November 18th, 2013Committee meeting
Michael Duffy
Finance committee Well, when you say intervention by the federal government, the rates are basically set by mechanisms in establishing the legislation, and when the board set the rate, it followed those mechanisms.
November 18th, 2013Committee meeting
Michael Duffy
Finance committee I don't have the total number for each year, but in the last year of operations, their budget came in at $1.2 million.
November 18th, 2013Committee meeting
Michael Duffy
Finance committee Yes.
November 18th, 2013Committee meeting
Michael Duffy
Finance committee I'm not in a position to judge that question. I can explain that the new mechanism coming in 2016 for purposes of establishing the 2017 rate is designed to be open, transparent, and will be set by the EI Commission, which is a tripartite body with representation of both busines
November 18th, 2013Committee meeting
Michael Duffy
Finance committee Thank you, Mr. Chair. Division 1 will amend the Employment Insurance Act to set the rate for employment insurance premium rates for 2015 and 2016 at $1.88 for every $100 of insurable earnings. That's effectively the freeze announced by the government on September 9, 2013. It wil
November 18th, 2013Committee meeting
Michael Duffy