VANCOUVER, Feb. 18, 2014 /CNW/ - The Canadian Restaurant and
Foodservices Association (CRFA) and British Columbia's hospitality
industry welcome today's balanced budget. This is good news for the
province's $10 billion restaurant industry because balancing the budget
reduces debt servicing costs and takes the pressure off government to
raise personal and business taxes. As a result British Columbians will
have more disposable income to spend in restaurants.
Restaurant industry growth is dependent on disposable income. "Today's
balanced budget will result in our guests spending more money in their
local restaurants and bars," said Mark von Schellwitz, CRFA's Vice
President, Western Canada. "A balanced budget also helps increase
business confidence and combined with the recently announced Liquor
Review changes will attract new investment and encourage job creation
in British Columbia's hospitality industry."
CRFA is working with government on implementing Liquor Review
recommendations and continues to urge the B.C. government to move to a
simpler, transparent flat-tax liquor markup system that offers
licensees a wholesale discount. "British Columbia's licensed
establishments are the only major wholesale purchaser of liquor that
receive absolutely no discount on the Liquor Distribution Branch's
retail price, which results in higher liquor menu prices for
customers," said von Schellwitz. "A flat-tax liquor markup model, in
addition to providing economic advantages, better reflects social
interests while offering more flexibility, transparency and future
liquor revenue predictability for government."
British Columbia's $10-billion restaurant industry is one of the largest
employment- and revenue-generating liquor stakeholders. It directly
employs more than 166,000 people in every community across the
CRFA is one of Canada's largest business associations, with 30,000
members representing restaurants, bars, caterers, institutions and
other foodservice providers. Canada's restaurant industry generates $68
billion annually in economic activity and employs more than one million
people in communities across the country.
SOURCE: Canadian Restaurant and Foodservices Association
For further information:
Contact: Mark von Schellwitz, Vice President, Western Canada, 604-685-9655 or cell 604-809-5719 or firstname.lastname@example.org, or Prasanthi Vasanthakumar, Communications Specialist at 416-649-4254 or 1-800-387-5649 ext. 4254, or email email@example.com.