Retail Council of Canada (RCC) commends the Ontario government’s Budget 2021 for its continued support for our small retail members including the continuation of previously announced reductions to energy prices and business property tax rates, as well as newly announced supports through the Small Business Support Grant and the Digital Mainstreet Grant.
“Today’s budget provides critical cashflow for small business” said Diane J. Brisebois, President and CEO, Retail Council of Canada. “2020 was a crushing year for so many of our members, especially those who were impacted by unprecedented lockdowns and other restrictions. In particular, the Small Business Support Grant will provide an additional $10,000 to $20,000 dollars for business owners, without the red tape of needing to reapply.”
For medium and large retail members, today’s budget builds on supports previously announced including a reduction to the property tax for business to 0.88%, and for medium and large retail members, a continued 16% reduction in energy bills for retailers as previously announced last November. For many of RCC’s members, these initiatives represent a significant reduction in operational costs and therefore allows our members to reinvest in their business or pass along savings to customers.
Today’s budget also lays the groundwork for future economic success with an additional $2.8B for broadband internet access and a 20% increase in the Childcare Access and Relief from Expenses (CARE) tax credit. Both of these will be impactful for retailers as they will need every lifeline available to them from all levels of government in 2021 in order to remain viable.
For more information or to schedule media interviews, contact:
Michelle Wasylyshen, email@example.com
About Retail Council of Canada
Retail is Canada’s largest private sector employer. Retail Council of Canada (RCC) members represent more than two thirds of retail sales in the country. RCC is a not-for-profit, industry-funded association that represents small, medium and large retail businesses in every community across the country. As the Voice of Retail™ in Canada, we proudly represent more than 45,000 storefronts in all retail formats, including department, grocery, specialty, discount, independent retailers and online merchants. www.RetailCouncil.org