WOODBRIDGE – Steven Del Duca visited Frank’s Place in Woodbridge to highlight how Ontario Liberals will support local restaurants by removing the 8% provincial HST on prepared food under $20. The plan will be fully funded by a 1% surtax on companies operating in Ontario whose profits exceed $1 billion a year, and a 2% income tax increase for individuals on income over $500,000 annually.
“The last two years have been devastating for Ontario’s small businesses,” said Del Duca. “Doug Ford’s big-box bias and chaotic response to the pandemic hit mom-and-pop shops hardest, especially Ontario’s local restaurants. Ontario Liberals want to provide some relief for Ontario’s small businesses, and help them recover by bringing more customers through their doors.”
According to Statistics Canada, food prices in Ontario rose 8.2 per cent in the last year, adding yet another burden for restaurants trying to recover from the pandemic. Ontario Liberals will remove provincial taxes on prepared foods by increasing the exemption from provincial HST for prepared foods from $4 to $20. With the Ontario Liberal plan, an office worker can head to a local eatery, buy a lunch under $20 and avoid the provincial HST.
The Ontario Liberal plan will also eliminate corporate taxes for small businesses deeply hurt by the pandemic for two years.
“Restaurants Canada applauds this progressive policy, which will aid the foodservice industry’s recovery while making it more affordable for customers,” said James Rilett, Vice President at Restaurants Canada.
“Ontario Liberals have a plan to help struggling families and small businesses, while ensuring the biggest and richest pay their fair share,” continued Del Duca. “The Ford Conservatives are bent on handing out the most help to those who need it the least. My message to voters today is: the choice is yours.”