{"id":59202,"date":"2024-02-12T12:56:05","date_gmt":"2024-02-12T12:56:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/restaurant-industry-bracing-for-largest-alcohol-excise-tax-in-40-years-calls-for-a-cap-on-escalation\/"},"modified":"2024-02-12T12:56:05","modified_gmt":"2024-02-12T12:56:05","slug":"restaurant-industry-bracing-for-largest-alcohol-excise-tax-in-40-years-calls-for-a-cap-on-escalation","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/restaurant-industry-bracing-for-largest-alcohol-excise-tax-in-40-years-calls-for-a-cap-on-escalation\/","title":{"rendered":"Restaurant Industry Bracing for Largest Alcohol Excise Tax in 40 years; Calls for a Cap on Escalation"},"content":{"rendered":"<div id=\"main-body-container\" itemprop=\"articleBody\">\n<p>Toronto, Feb.  12, 2024  (GLOBE NEWSWIRE) &#8212; Restaurants Canada, the leading association representing the foodservice industry, is calling on the federal government to reconsider plans to\u00a0implement a 4.7% increase to the alcohol excise tax. This alarming rate escalation has\u00a0prompted industry leaders and stakeholders to voice their concerns and plea for the\u00a0maintenance of a 2% cap on the Alcohol Excise Tax escalator.<\/p>\n<p>The impact of such a significant tax hike will further strain the restaurant industry. The\u00a0current circumstances with record high inflation on all costs from food to rent and\u00a0economic uncertainty, warrant a more cautious approach to taxation policies.<\/p>\n<p><em><strong>Restaurants Canada\u2019s most recent data shows 62% of restaurants are operating at a\u00a0loss or barely breaking even<\/strong><\/em>, compared to 10% pre-pandemic \u2013 a dramatic increase from\u00a053% in the summer of 2023.<\/p>\n<p>The economic strain resulting from additional costs like this tax hike cannot be overlooked.\u00a0Every year this tax adds thousands of dollars to our costs, compounding the inflation\u00a0challenges faced by our industry. Restaurant owners can\u2019t afford it, and Canadians can\u2019t\u00a0afford it.<\/p>\n<p>\u201cThis 4.7% increase in the Alcohol Excise Tax is absurd and will have consequences for the\u00a0restaurant and bar industry,\u201d warns Kelly Higginson, President &amp; CEO at Restaurants\u00a0Canada. \u201cWe are asking the government to maintain a 2% cap on the Alcohol Excise Tax\u00a0escalator until inflation returns to the Bank of Canada\u2019s lowered target. This step will\u00a0provide much-needed predictability, relief, and stability for the industry.\u201d<\/p>\n<p>\u201cHigher prices forced onto consumers will push our already struggling operators into a\u00a0corner. We are already witnessing consumers feeling the pinch and pulling back on\u00a0discretionary spending. Why on earth would the government want to hit us with the\u00a04.7% tax when we are at our lowest point,\u201d said Higginson.<\/p>\n<p>Restaurants Canada is in lockstep with a coalition of brewers, unions, consumers,\u00a0farmers, retailers, and hospitality professionals, united in their call for a cap to the\u00a0alcohol excise tax, to safeguard and ensure a sustainable future for Canada\u2019s restaurant\u00a0and foodservice industry.<\/p>\n<p>About Restaurant Canada:<\/p>\n<p>Restaurants Canada is a national, not-for-profit association advancing Canada\u2019s diverse\u00a0and dynamic foodservice industry. Canada\u2019s foodservice sector is a $110 Billion industrythat directly employs 1.2 million people and serves 22 million customers across the\u00a0country every day.<\/p>\n<pre\/>\n            <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Toronto, Feb. 12, 2024 (GLOBE NEWSWIRE) &#8212; Restaurants Canada, the leading association representing the foodservice industry, is calling on the federal government to reconsider plans to\u00a0implement a 4.7% increase to the alcohol excise tax. This alarming rate escalation has\u00a0prompted industry leaders and stakeholders to voice their concerns and plea for the\u00a0maintenance of a 2% cap [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":59203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/3c309666-bfea-417a-93ab-723d7d8200ec","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-59202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/59202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=59202"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/59202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/59203"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=59202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=59202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=59202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}