VICTORIA, Feb. 19, 2013 /CNW/ - British Columbia's restaurant industry
appreciates the provincial government's commitment to balance the
budget and welcomes the April 1 transition to PST which marks the
return of provincial food tax fairness.
The combination of restaurant meals automatically becoming 7% cheaper
and disposable income significantly increasing for consumers will boost
sales growth in 2013. Liquor mark-ups will also be reduced to fully
offset the additional 3% tax on liquor that takes place when the PST is
"The 2.7 million guests served every day by British Columbia's 12,000
restaurateurs look forward to paying 7% less for restaurant meals,"
said Mark von Schellwitz, Vice President, Western Canada, Canadian
Restaurant and Foodservices Association (CRFA).
"By demonstrating fiscal discipline and balancing the budget, the
government will save all British Columbians from paying additional
taxes on interest payments in the future," said von Schellwitz.
CRFA forecasts that with the return to the PST restaurant meal
exemption, a stronger economy, and an increase in disposable income,
B.C.'s restaurant industry will grow a healthy 5.1% in 2013 - a stark
contrast from the 2.3% drop in restaurant sales in 2011 after the HST.
In fact, since the HST was implemented British Columbia's cumulative
restaurant industry sales growth (2%) significantly trailed sales
growth for the rest of Canada (9%).
B.C.'s $10-billion restaurant industry is an important economic force,
representing 4.5% of the provincial economy and directly employing more
than 166,000 people, or 7.2% of the provincial workforce, in every B.C.
CRFA is one of Canada's largest business associations, with more than
30,000 members representing restaurants, bars, caterers, institutions
and other foodservice providers. Canada's restaurant industry employs
more than one million people in communities across the country.
SOURCE: Canadian Restaurant and Foodservices Association
For further information:
Mark von Schellwitz, Vice President, Western Canada, 604-685-9655 or cell 604-809-5719 or email@example.com; Jill Holroyd, Senior Vice President, Communications and Research, 1-800-387-5649 ext. 4217, or cell 416-738-7134, or firstname.lastname@example.org.