Workers Compensation rates dropping
Most businesses on P.E.I. will get a break in the rates they pay to the Workers Compensation Board next year.
The board has set its preliminary rate for 2012 at $2 for every $100 of payroll, five cents lower than last year.
Tammy Turner, director of corporate services with the WCB, told CBC News a number of factors have come together to allow the decrease, even while costs are rising.
"Healthcare is going up, the costs are going up. But at the same time what we call our short-term claims are going down," said Turner.
"I guess the two balance one another out."
Payroll has increased across the province, either because of higher wages or more people working, and that brings in more revenue.
In addition, WCB brought in changes two years ago that require businesses with higher injury rates to pay more. That means businesses with lower injury rates can pay less.