The Hill Times
Canada’s official economy—the one in plain sight that pays taxes and reports to public markets—is in trouble. Productivity is weak, and investor confidence is being shaken by geopolitical turmoil. But there is one area of our economy that is surging: the underground market for illicit cigarettes is in a period of multi-year expansion, with growth rates that would be the envy of any startup or business.
This puts our future trade opportunities—and economic well-being—in peril. One of the primary focuses of the EY report was to put the domestic tax implications of the runaway illegal cigarette business into focus. It found that in 2023, Alberta’s estimated tax loss was $102-million. In Manitoba, it was $60-million. Quebec—which has put more resources towards cracking down on illegal cigarettes than any other province—still lost $58-million.
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