ECON 241 Lecture 21: ECON 241 (Economics of Social Issues): Session 21 Notes
27 Sep 2017
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Proposal: premium increases from 4. 95% to 5. 95% 2% increase bc 1% increase for both employees and employers over 5 years (starting 2019 until 2024) Increase ympe from 55 k to 83 k over further 2 yrs. Over 2025 + 2026 but premium rate on range from 55k 83k will be 4% (tax deductible) Max benefit increases 25% of average industrial wage (12k) to 33% of average industry (16k) At the moment, benefit made to cpp tax deductible claim as non refundable tax credit. If new premium is tax deductible, then value of tax savings decreases. Canadians only use 10% of amount available for. 1940s, ui now federal jurisdiction until about early 70s. Sickness when you still plan on returning to work. Incentives (missing!!!!!: duration how long collect. 1st 26 weeks of work each generate 1 week benefit. For next 26 weeks, each 2 weeks of work generates 1 week of benefit.
