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| NEWS RELEASEOntario Saving Businesses $160 Million as WSIB Lowers PremiumsLower costs will help businesses invest, grow and create good-paying jobs as the province protects workers and businesses from U.S. tariffsOctober 22, 2026 Ministry of Labour, Immigration, Training and Skills Development ETOBICOKE — Ontario is continuing to lead the country in lowering costs for businesses, with the Workplace Safety and Insurance Board (WSIB) decreasing the average premium rate from $1.23 to $1.18 per $100 of insurable payroll for more than 80 per cent of premium paying businesses in 2027. This reduction will save employers a total of $160 million in 2027, furthering a series of reductions that have brought Ontario’s average premium rate to nearly 30 per cent below the national average. Since 2024, Ontario has returned $4 billion in WSIB rebates to eligible safe businesses, giving Ontario businesses much-needed flexibility and helping them keep workers on the job as they face the impact of U.S. tariffs.“When businesses can invest in their workers, it creates more opportunity and greater stability for families and communities,” said Trevor Jones, Minister of Labour, Immigration, Training and Skills Development. “By lowering costs, we’re helping Ontario businesses become more competitive and invest in the people who drive their success. This WSIB rate reduction gives employers more room to strengthen their teams, create safer workplaces and grow their businesses, supporting good-paying jobs across the province.”The WSIB’s average premium rate will decrease to $1.18 per $100 of insurable payroll effective January 1, 2027, compared to $1.23 in 2026 and $2.35 in 2018. Eligible businesses will be able to access their individual 2027 premium rate statements through the WSIB’s online services beginning in November 2026.“We’ve been able to improve results for people and reduce administrative costs, and that means more money can stay in Ontario’s economy,” said Jeffery Lang, President and CEO of the WSIB. “We’re able to help people recover and return to work while also helping over 80 per cent of businesses to receive a rate cut.”These savings support the government’s broader plan to protect Ontario by lowering costs for businesses and supporting workers to build the most competitive and resilient economy in the G7, including:Cutting the small business corporate income tax rate from 3.2 per cent to 2.2 per cent, delivering $1.1 billion in relief and up to $5,000 in annual savings to over 375,000 small businesses.Investing $150 million through the Ontario Together Trade Fund to help businesses expand into new markets, strengthen domestic supply chains and become more competitive.Expanding eligibility for the $1 billion Protect Ontario Financing Program, providing low-interest loans to help tariff-affected businesses manage operating costs and protect jobs.Investing $228 million through the Canada–Ontario Workforce Tariff Response to help impacted workers access the training and skills they need to adapt to changing economic conditions and meet employers’ needs.As Ontario continues to navigate the impacts of U.S. tariffs and global economic uncertainty, these measures will deliver on the Ontario government’s plan to protect workers, support businesses and build a stronger, more resilient economy. Quick FactsThe WSIB’s average premium rate for Ontario businesses will decrease to $1.18 per $100 of insurable payroll in 2027, compared to $1.23 in 2026 and $2.35 in 2018.Ontario’s average WSIB premium rate is nearly 30 per cent below the national average.The WSIB provides workplace safety and insurance coverage for approximately 5.6 million workers across more than 330,000 insured businesses and workplaces in Ontario.Businesses will be able to access their individual 2027 premium rate statements through the WSIB’s online services beginning in November 2026. Quotes”Small businesses are the backbone of Ontario’s economy, representing 98 per cent of all businesses and employing close to 2.5 million people. In the face of unjustified U.S. tariffs and economic uncertainty, the WSIB’s cut to premium rates will provide Ontario’s small business owners with additional relief so they can manage costs, hire and retain staff, and remain competitive. As we celebrate Small Business Week, our government remains committed to protecting hard-working small businesses and workers across our province.”– Nina Tangri Associate Minister of Small Business“In the face of U.S. tariffs, our government is delivering on its steadfast commitment to protect workers and create the most competitive and resilient economy in the G7. By cutting WSIB premium rates, we will build on the $12 billion in annual cost-saving measures already in place, encouraging continued investment across the province while safeguarding our world-class workers.”– Vic Fedeli Minister of Economic Development, Job Creation, and Trade“Support for Ontario businesses is essential to strengthening our local manufacturing sector. As a family owned and operated Canadian food manufacturer, we know firsthand that investing in our facilities, people, and capabilities is critical to growth. Programs like this help companies like ours build capacity, create jobs, and compete in a marketplace where Canadian manufacturers are facing increasing pressure from imported products. When we invest in local businesses, we strengthen our economy, support Ontario jobs, and help build a more resilient Canadian food industry.”– Alexander Messina Co-Owner, Mema Foods International Inc.“On behalf of our 40,000 members in all sectors and regions of the province, we thank the Ontario government for lowering the WSIB’s average premium rate, especially at a time when businesses are struggling with high U.S. tariffs, persistent low demand, and ever-rising costs. Since employers fund the WSIB, our members always appreciate when surpluses are returned to them through surplus rebates and premium reductions.”– Julie Kwiecinski Director of Provincial Affairs (Ontario), Canadian Federation of Independent Business“Lowering WSIB premiums is a welcome step to reduce costs for businesses and give Ontario Chamber members, particularly small businesses, greater flexibility to invest in their people, operations and growth.”– Daniel Tisch President and CEO, Ontario Chamber of Commerce“As Ontario faces pressure from U.S. tariffs and economic uncertainty, the government is supporting businesses by reducing costs. The savings from the WSIB premium reduction will help employers lower operating costs, protect jobs, and reinvest in their operations and workplace health and safety during these difficult times.”– Kinga Surma Member of Provincial Parliament for Etobicoke Centre Additional Resources2026 Ontario Budget: A Plan to Protect OntarioOntario Expanding Eligibility for Tariff Support ProgramsOntario Expanding and Diversifying International Trade LinksOntario Taking Next Steps to Unlock Free Trade Within CanadaSkills Advance Ontario |