Legal News

WCB Rates Decrease for 2007

The BC Workers’ Compensation Board has announced a 10.8% decrease in the average base rate for employers for 2007. The 2007 rate will be $1.69 per $100 of assessable payroll, compared to $1.90 in 2006. WCB reports that the rates for BC employers will be among the lowest in Canada, and at their lowest in thirty years.

Overall, 68% of BC employers will see a reduction in their base rates. The construction and sawmilling industries will see the highest reduction (20%) and other industries receiving reductions will include public schools, universities, local governments, general trucking and restaurants. There will be rate increases for gas utilities (20%), department stores (7.5%) and ferry services (6.6%), as well as for various business services.

The lower rates are a result of industry trends, payroll increases and strong investment returns.