Ontario's budget watchdog estimates that the government's decision to speed up the rollout of alcohol sales in corner stores will cost the province more than $600 million. This is nearly three times the amount the Progressive Conservative government initially projected. The Financial Accountability Officer reports the expansion of beer, wine, and coolers to convenience stores, big box stores, and more grocery stores will cost $1.4 billion through 2030, with $612 million attributed to the accelerated timeline. Premier Doug Ford's previous plan was to expand sales by 2026, but he announced in May that it would happen in 2024. The province states that an 'early implementation agreement' with The Beer Store involves Ontario paying the company up to $225 million to help it keep stores open and workers employed.
TORONTO — Ontario’s budget watchdog estimates that the government’s decision to speed up the rollout of alcohol sales in corner stores will cost the province more than $600 million.
The Financial Accountability Officer says in a report today that the expansion of beer, wine and coolers to convenience stores, big box stores and more grocery stores will cost $1.4 billion through to 2030, and $612 million of that is due to the sped-up timing.
ALCOHOL SALES ONTARIO GOVERNMENT BUDGET ELECTION PREMIER FORD
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ontario's Accelerated Alcohol Sales in Stores To Cost $600 Million MoreOntario's budget watchdog predicts that the government's decision to speed up the sale of alcohol in convenience stores will result in a significant cost increase for the province. The Financial Accountability Officer estimates the cost at $1.4 billion by 2030, with $612 million attributed to the accelerated timeline. Premier Doug Ford's original plan was to expand alcohol sales by 2026, but he announced an earlier rollout for 2024, citing an agreement with The Beer Store to help maintain stores and jobs. This move has fueled speculation about an early election, which Ford confirmed is taking place on Wednesday.
Read more »
Ontario's Alcohol Sales Expansion to Cost Over $600 Million, Budget Watchdog SaysOntario's accelerated rollout of alcohol sales to corner stores will cost the province more than $600 million, according to the province's budget watchdog. This is nearly three times the amount the Progressive Conservative government initially estimated. The Financial Accountability Officer (FAO) states that the expansion of beer, wine, and coolers to convenience stores, big box stores, and more grocery stores will cost $1.4 billion through 2030, with $612 million attributed to the sped-up timeline.
Read more »
Alcohol Sales in Corner Stores to Cost Ontario Over $600 Million, Budget Watchdog SaysOntario's budget watchdog estimates that Premier Doug Ford's decision to accelerate the rollout of alcohol sales in corner stores, big box stores, and more grocery stores will cost the province over $600 million by 2030. The Financial Accountability Officer (FAO) attributes the increased cost to the sped-up timeline, which brings the expansion forward from 2026 to 2024. The report also highlights that the actual financial impact could range between $529 million and $1.9 billion depending on consumer behavior and alcohol consumption rates.
Read more »
Ontario's Accelerated Alcohol Sales Expansion to Cost Over $600 Million, Budget Watchdog SaysOntario Premier Doug Ford's decision to speed up the sale of alcohol in corner stores will cost the province over $600 million, according to the province's budget watchdog. The expansion, which was originally planned for 2026, is now set to begin in 2024 and is expected to cost $1.4 billion through 2030. The report highlights potential costs associated with lower tax revenues, operational expenses, and rebates to retailers.
Read more »
Ford Government's Accelerated Alcohol Sales Plan to Cost Taxpayers $600 MillionThe Financial Accountability Office (FAO) reports that the Ford government's plan to allow the sale of beer, wine, and ready-to-drink cocktails in convenience stores ahead of schedule will cost taxpayers over $600 million. This revelation comes just before Premier Ford is expected to call an early provincial election.
Read more »
Thomson Reuters Buys SafeSend for US$600 Million to Expand Tax Automation BusinessThomson Reuters has acquired SafeSend, a Michigan-based provider of cloud-based tax automation software, for US$600 million. This deal strengthens Thomson Reuters' tax and accounting offerings and follows a string of smaller acquisitions in recent years aimed at bolstering its tax business. SafeSend's software automates the final stages of tax filing, including e-signatures and delivery, and is used by 70 percent of the top 500 accounting firms in the United States.
Read more »