Ontario’s trucking industry received some good news today in the form of the WSIB’s announcement to significantly reduce trucking’s rate (RG570) by 30 percent – from $6.97 to $4.88.
Today’s announcement, made at WSIB’s annual general meeting, marks the return of $1.45 billion back to the employers, says the Ontario Trucking Association.
OTA congratulated the WSIB and the Ontario Government on the retirement of the unfunded liability (UFL). As a well-performing rate group, the trucking industry had been looking forward to the end of the debt and encouraged by the likelihood of rate reductions.
“This reduction is an acknowledgment of the long-term focus and resolve of the WSIB and Ontario employers to tackle the UFL and restore the WSIB back to financial health,” said Jonathan Blackham, OTA’s director of Policy and Public Affairs. “Not only does this help Ontario’s business compete domestically and internationally, it allows them to make greater investments in their workforce and their health and safety programs.”
OTA noted other groups also received significant reductions: Warehousing will see a 27 percent decrease in premium rates from $2.73 (in 2018) to $1.99 in 2019. Couriers (RG577) will see a decrease from $3.14 (2018) to $2.40 in 2019, representing a 23 percent decrease.
“As a labour-intensive business, having competitive WSIB premium rates is extremely important to the Ontario trucking industry. Today’s announcement sends a strong message that Ontario is competitive and open for business,” said OTA president Stephen Laskowski.