On October 6, 2008, Bill 107, the Training for Workers Act, 2008, was introduced in the Ontario Legislature. The stated purpose of the Act is to promote and improve workforce qualifications by increasing investment in training.
If the Act is passed, employers with an annual payroll of at least $1 million will be required to allot at least 1% of their payroll amount to training expenditures for their employees. Such employers will be required to report their training expenditures to the Minister of Labour each year. When their training expenditures are less than 1% for the year, they will be required to pay the amount of the shortfall into a Workforce Skills Development and Recognition Fund.
The Fund will be administered by a committee of representatives from labour and management appointed by the Minister of Labour.
For further information, please visit the following link: