In this edition:
- Chambers welcome provincial beer tax freeze
- Trudeau says he’s furious over Bell Media layoffs, calling it a ‘garbage decision’
- Canada’s economy added 37,000 jobs in January as unemployment declines to 5.7%
- BoC expected to take its time with interest rate cuts after January’s job gain
- NWIC deploys next-generation Motorola two-way radio network in southern Ontario
- Focus on Sustainability
Chambers welcome provincial beer tax freeze
The Ontario government today announced that it would stop the estimated 4.6 per cent increase to the beer basic tax and LCBO mark-up rates that was scheduled for March 1, 2024. This increase would have resulted from rates being indexed to inflation, which the government has consistently stopped over the last six years, resulting in approximately $200 million in relief. This latest freeze will be in place for two years, until March 1, 2026.
“This tax freeze is welcome news to Niagara’s breweries,” said GNCC CEO Mishka Balsom. “While index-linked tax increases normally add predictability, at a time of unstable and increased inflationary rates, the opposite is true.
“The Government of Ontario is to be commended for recognizing the unfair burden that these increases would have placed on both breweries and customers. Today’s announcement makes good business sense and demonstrates the commitment of this government to our province’s prosperity.”
“The Ontario Chamber of Commerce applauds the provincial government’s decision to defer the automatic beer escalator tax increase for two years,” said Ontario Chamber President and CEO, Daniel Tisch. “As a steadfast advocate for this policy, we are grateful to see the government provide much-needed stability for breweries and the hospitality sector as they continue to recover from the pandemic and grow.”
Prime Minister Justin Trudeau trash-talked BCE Inc.’s widespread layoffs Friday, calling cuts to Bell Media a “garbage decision.”
“I’m furious,” Trudeau told reporters at a press conference in King City, Ont.
Bell Media said Thursday it is ending multiple television newscasts and making other programming cuts after its parent company announced job reductions and the sale of 45 of its 103 regional radio stations.
Trudeau said the company should know better.
Did you know?
Focus on Sustainability
Integrating climate action into your strategy means creating a comprehensive plan for reducing greenhouse gas (GHG) emissions. In your plan, take metrics on current emissions and set timebound goals for cutting them.
Your climate strategy will also look at risks and opportunities. Do you face regulations? Will key stakeholders push to go faster or resist? Can you access new markets thanks to this new strategy? You will answer these questions when you make an action plan for achieving your targets.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.