Carleton Place, Ontario – The Carleton Place & District Chamber of Commerce is pleased to announce a significant policy win for Ontario’s breweries, tourism, and hospitality sectors. After considerable advocacy efforts by the chamber network as well as Beer Canada, the Minister of Finance of Ontario unveiled plans to freeze the escalator on Ontario’s Basic Beer Tax for the next two years until March 1. 2026.
The freeze on the Basic Beer Tax is expected to generate substantial benefits, offering tax savings of $32 million in 2024 alone and nearly $60 million over the next two years. These savings will provide some relief to breweries, tourism, and hospitality businesses, and of course, consumers.
The pandemic has presented unprecedented challenges to our local economies, particularly impacting the hospitality and tourism sectors. Despite their resilience and adaptability, businesses within these sectors have faced obstacles ranging from reduced consumer spending to supply chain disruptions. The Ontario government’s decision to freeze the Basic Beer Tax demonstrates a commitment to easing the financial burdens faced by these businesses.
Moving forward, the Carleton Place & District Chamber of Commerce reaffirms its dedication to advocating for policies that empower businesses and enhance our local economic landscape. Furthermore, we will urge the federal government to follow suit and freeze its own Alcohol Escalator Tax, which is slated to increase by nearly 5% on April 1st, 2024.
The chamber extends its gratitude to all stakeholders, including our members, partners, and government officials, for their collaborative efforts in achieving this significant policy win. Together, we will continue to champion initiatives that support the growth and prosperity of our communities.
For media inquiries, please contact: Jackie Kavanagh, Carleton Place & District Chamber of Commerce, 613-257-1976