Statement on Pay Transparency and Equal Pay Legislation in Newfoundland and Labrador
The St. John's Board of Trade's statement in reaction to the Government announcement regarding Pay Equity and Pay Transparency Legislation on October 17, 2022:
As we shared in our position statement in July, the St. John’s Board of Trade is in full support of closing the gender wage gap.
Research shows that Newfoundland and Labrador ranks second-to-last of the Canadian Provinces with an 11% gender wage gap.  Research also shows that how we close the gap is complex, and could include increases to the minimum wage, reduction to the cost of childcare, pay transparency legislation, pay equity legislation, and more. All these factors underline the need to find solutions to the gender wage gap, and now. 
Today, we were pleased to see Government is taking steps to close the wage gap.
Our role as a business association is to bring the voice of the business community forward, and work to understand the impact of legislation, especially on the small and medium sized businesses who make up the majority of our membership. We are committed to being a conduit of information from the business community to Government, and vice versa, as Government begins consultations on how pay equity and pay transparency legislation can be implemented in the private sector.
We look forward to taking an active role in the consultations and welcome Government to engage our members in a robust conversation about how we, as a Province, can work together to implement a significant, cost effective, and impactful change.