The Ontario Workplace Safety and Insurance Board (WSIB) is planning to transfer billions in so-called surplus monies into the pockets of employers. Supposedly, the aim of the move is to return a portion of almost $6 billion back into the economy. While this will most certainly be a boon to business, it’s a significant blow to injured workers across the province. This is because the surplus that the provincial government earmarked for business was largely generated through cuts to workers’ critical benefits. Ontario’s government is effectively redistributing billions of dollars from workers to bosses.

Last month, the minister of Labour, Training and Skills Development announced that when the WSIB accumulates 115 percent of its future expected costs, the government will permit the board to pay any excess money to certain employers across the province. The board chose this figure because it is the amount of money they need to have on hand to pay out all future benefits for existing workers’ compensation claims. The proposed amendment will also make it compulsory for the WSIB to return a portion of any surplus to employers if it is able to raise 125 percent of its expected costs.

The premiums employers pay to the WSIB, along with investments made by the board, fund the compensation system. So far, the province has been mum about the use to which the redistributed funds will be put. It looks likely, however, that the cash could be used to give employers premium reductions and holidays.