Today Kathleen Wynne’s Liberals raised miniumum wage in Ontario from $10.25 to $11.00. Either she doesn’t do math or she is nickel and diming. She announced that she would tag the rise to inflation since 2010 when it was last raised.
Yet by my math when I take the CPI inflation rate in Canada over the past 4 years and multiply the rate by the current $10.25 minimum wage I get a $10.96 minimum wage.
CPI inflation for 2010 – 2.35%
CPI inflation for 2011 – 2.30%
CPI inflation for 2012 – 0.83%
CPI inflation for 2013 – 1.24%
So $10.25 x 1.0235 x 1.0230 x 1.0083 x 1.0124 = $10.955
So she has just tagged in an added 4.45 cents. You may think this is paltry but it is another way she is nudging Ontario small businesses over the cliff a nickel at a time.
Officially Screwed….again.