Retailers pleased with throne speech but remain concerned with high merchant credit card fees
“Today’s Speech from the Throne called for the empowerment of consumers by requiring disclosure of the cost of the different payment methods,” says Diane J. Brisebois, President and CEO of RCC. “Unfortunately, we do not believe this goes far enough. RCC’s view is that simply telling people how much they are being overcharged for credit card fees does not solve the problem. We need real action to address this issue.”
RCC welcomes the Government signalling that it understands that the issues around tariffs and country pricing are key factors in price differences between Canada and the U.S. We look forward to continuing to work with the Federal government to build a level playing field for retailers and their consumers in Canada.
Media and Videos
- Will there be any change? (CTV)
- Throne speech offers up small goodies (Toronto Star)
- Ottawa to cut cross-border price gaps but doesn’t say how it will do it (Globe and Mail)
- Throne speech promises to close cross-border price gap (CBC)
- Federal gov’t introduces consumer-friendly Throne Speech (News 1130)
- Throne Speech: Consumer Friendly (BNN)
- CTV Throne Speech coverage (CTV)
The Federal Government announced new measures that will benefit retailers in Canada, including:
- The One-for-One rule – eliminating a regulation for every new regulation added – will ensure that small, mid and large merchants are not inundated with regulatory burdens.
- The introduction of balanced-budget legislation signals a commitment to fiscal responsibility beneficial to all businesses.
- Credential recognition across Canada allowing for the free movement of workers ensures cost efficiencies, especially for retailers operating stores in multiple provinces across the country.
- Removing interprovincial barriers and working towards common cooperative regulatory systems is also welcomed as a common sense approach to reducing unnecessary costs.
RCC welcomes the Government’s recognition of the need to address two key issues facing its members: Canada U.S. price differences and high merchant credit card fees.
With respect to the costs that consumers face directly, RCC was again encouraged that the Government expressed an understanding and recognition that Canadian consumers – and retailers – are tired of hidden fees.