'Is there anything we can do about it? No': Waterloo Region restaurants brace for alcohol excise tax
CTV
Waterloo Region restaurants are bracing for the highest federal alcohol excise tax in 40 years.
Waterloo Region restaurants are bracing for the highest federal alcohol excise tax in 40 years.
Consumers may notice a spike in booze prices as the federal government plans to increase the escalator tax by 4.7 per cent on April 1.
It may sound like an April Fool’s Day prank, but it comes as businesses are still trying to recover from the effects of the pandemic.
“Is it a shock? No. We knew it was coming. Are we happy with it? No. Is there anything we can do about it? No. So we just have to get smart and deal with it,” said Bill Siegfried, vice president of operations at Moose Winooski’s in Kitchener.
It’s one of many restaurants that will feel the pressure of the federal government raising the tax on one of life’s pleasures. Yet, Siegfried and his team are swallowing the costs.
“Can we pass it on to our guests? Absolutely not,” he said.
That means they’ll have to cut costs elsewhere, which they’ve done before considering this tax increases annually by the rate of inflation.
