Chamber Calls on Parties to Refrain from New Business TaxesMay 9, 2022
(TORONTO- May 9, 2022) –Today, Rocco Rossi, President and CEO, Ontario Chamber of Commerce (OCC) released the following statement:
“We call on all political parties to commit to no new taxes hikes on business if elected.
“It has never been more important for public policies to support business predictability and economic growth. With the impacts of the pandemic still lingering, businesses need stability, and that means Ontario’s next government should commit to not implementing new taxes on business.
“The best way for Ontario to tackle its debt and deficit is to grow the economy. The next government should also explore alternatives to taxation, such as tackling illegal markets and the underground economy, entering thoughtful private-public partnerships, expanding alternative public service delivery, and exploring innovative financial models.
“For example, Ontario’s basic beer tax is currently scheduled to increase on March 1, 2023. This is an annual escalator that has been deferred since 2018. It impacts brewers of every size, from small to large, every bar and restaurant owner down to the beleaguered consumer. As 2023 looms around the corner, the sector is concerned this tax hike may go unnoticed unless the Minister of Finance passes a regulation to defer it. This would have unintended consequences for businesses, consumers, and our economy.
“This election, we need Ontario’s next government to refrain from any new taxes on Canadian businesses and instead be bold in its willingness to adopt creative, long-term solutions.”
About the Ontario Chamber of Commerce
For more than a century, the Ontario Chamber of Commerce (OCC) has been the independent, non-partisan, indispensable partner of Ontario business. The OCC’s mission is to support economic growth in Ontario by defending business priorities at Queen’s Park on behalf of its network’s diverse 60,000 members.
For more information or to arrange an interview:
Vice President, Public Affairs
email@example.com| Mobile: (647) 261-4594
Backgrounder: Vote Prosperity
As outlined in OCC’s election priorities document, Vote Prosperity, parties should be focused on policies that result in more prosperous communities, improved business confidence, high-quality jobs, and a more resilient economy. This requires:
- Boosting confidence and predictability by modernizing regulation, committing to meaningful consultations, and developing a long-term plan to tackle Ontario’s debt without increasing taxes or cutting valuable programs and services.
- Implementing pro-growth policies through helping businesses access the capital, markets, and talent they need to grow.
- Building resilient communities by bolstering health care capacity, addressing climate change, and bridging our infrastructure gaps, including housing.
- Supporting entrepreneurship and innovation with targeted supports and a bold approach on technology adoption and data innovation.
The recommendations outlined in OCC’s Vote Prosperity were developed together with businesses, associations, post-secondary institutions, as well as chambers of commerce and boards of trade from across the province.
As the indispensable partner of business, we look forward to putting our members’ issues front and centre this election. To ensure the next provincial election addresses the most important issues, we have developed Vote Prosperity. Read the full plan.