Finance Minister to make announcement on federal beer tax increase
Global News
Chrystia Freeland made the announcement on Saturday.
Finance Minister Chrystia Freeland will be making an announcement regarding a federal beer tax increase slotted for April 1.
The alcohol excise tax, sometimes known as the “beer tax,” is planned to go up by 4.7 per cent. Kelowna-Lake Country Conservative MP Tracy Gray said last month that that hike would cost Canadians about $100 million extra in 2024-25.
Since the tax is an “escalator tax,” meaning it is automatically increased, there is typically no debate or vote in Parliament each time scheduled increases go ahead. Before the automation of its increases, the tax had to be approved by Parliament every time it was increased.
She said in a post on her website that many small local businesses in her district are concerned about the tax and how it will affect their bottom line.
“This excise tax increase comes at a time when our local beverage producers and those in the hospitality industry, such as restaurants and pubs, are already grappling with rising costs of everything including raw materials, packaging, energy, rent, and transportation,” she said.
More to come.
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