August 14, 2017
Loblaw Companies Ltd. chair and CEO Galen G. Weston recently joined the chorus of business leaders to come out against the Liberal’s proposal to increase Ontario’s minimum wage to $15 per hour by 2019. Weston — whose family’s sprawling business empire includes Loblaw stores, No Frills, Shoppers Drug Mart and high-end fashion retailer Holt Renfrew — fretted about the proposal’s effect on his bottom line in a call with analysts recently.
This comes on the heels of the government’s plan to increase the minimum wage to $14 per hour on Jan. 1, 2018, and then to $15 the following January. A similar policy in Alberta will see the minimum wage raised to $13.60 this October, and increase to $15 in October 2018.
Approximately 1 in 5 Albertan workers and 30 per cent of Ontario workers currently earn less than $15 per hour.