Retailers Welcome Tax Cuts
Toronto, October 31, 2007 – Retail Council of Canada (RCC) responded positively to the announcement in the fall Economic Statement that the Federal Government intends to reduce personal and corporate taxes.
RCC President and CEO, Diane J Brisebois, said, "Retailers and their customers will be pleased to know that the Federal Government plans to give some of their hard-earned money back to Canadians. For many years, RCC has urged the Government to reduce its tax take, and we are glad that Mr. Flaherty has listened to that advice."
RCC believes that any tax measure, including the GST cut, that puts money back into the pockets of Canadians is a positive step. Along with most economists, RCC's top priority was for reductions in the personal income tax burden, and we are pleased to see that the Minister has also lowered income taxes in a way that is particularly beneficial for lower and middle income Canadians.
Ms. Brisebois was particularly pleased with the personal income tax changes. She said, "RCC is delighted the Minister took our advice to lower the personal income tax burden, particularly for lower and middle income Canadians. That puts the dollars back where they are most needed — in the pockets of hard-working Canadians."
RCC also expressed its support for the Minister's commitment to pursue harmonization. Ms. Brisebois said, "RCC shares the Federal Government's desire to accomplish nation-wide harmonization of PSTs with the GST. We will be urging provincial governments to respond positively." She noted, however, "It is essential that merchants be able to show their prices exclusive of the tax. Without this freedom, retailers would oppose harmonization because of the damage it would do by fragmenting the domestic market.'
About RCC:
Founded in 1963, Retail Council of Canada (www.retailcouncil.org) is the voice of retail. It is a not-for-profit association whose more than 40,000 storefronts consist of all retail formats, including national and regional department stores, mass merchants, specialty chains, independent stores and online merchants. Collectively, Retail Council of Canada's members account for more than two-thirds of Canada's total general-merchandise retail sales.
Media Contact:
Derek Nighbor
Vice President, National Affairs
Retail Council of Canada
(416) 922-0553, ext. 234