A Very Popular Product Has Just Gotten More Expensive in Mississauga
If you like to indulge in tasty libations from time to time in Mississauga (and anywhere else in Ontario, for that matter), you might notice that they’re a little more expensive than before.
As of April 1, taxes on beer, wine and spirits rose 1.5 per cent.
The increase is due to the federal government’s tax escalator on alcohol.
Although the slight increase in taxes will see the country enjoy an uptick on an already generous revenue stream, some consumer advocates are unimpressed by the price hike.
“This weekend, while kids across Canada enjoy their Easter egg hunts, Canadian adults will be hunting for a bit more cash if they want to enjoy a drink,” said Aaron Wudrick, federal director, Canadian Taxpayers Federation (CTF), in a recent statement.
First passed in the 2017 federal budget, the new escalator tax automatically increases excise taxes on beer, wine and spirits every year by the rate of inflation.
Naturally, some groups aren’t happy.
In late 2017, the CTF launched the No Escalator Tax campaign to call on the federal government to repeal it.
The CTF says that consumers are already paying high taxes on alcohol, adding that nearly half of the price of beer in a liquor store is federal and provincial taxes.
The CTF says that, taxes account for about 65 per cent and 70 per cent of the final price of wine and 80 per cent of the price of spirits.