Restaurants Canada welcomes Ontario Competitiveness Tax Cut announced in today’s Fall Economic Statement

Restaurants Canada welcomes the Ontario Competitiveness Tax Cut announced today in the province’s Fall Economic Statement as an important step toward strengthening the restaurant industry’s ability to invest, improve productivity and create jobs in communities across Ontario. 

Restaurants are a significant driver of Ontario’s economic growth and employment. However, rising operating costs have forced many operators to delay investments in expansion, equipment, renovations and other capital improvements. By allowing businesses to immediately deduct the full provincial portion of the cost of most qualifying capital investments including machinery and equipment, the new measure will help restaurants make critical investments, enhance productivity and support future growth.

While the tax cut is a welcome step, more action is needed to address the cost pressures facing Ontario’s restaurant operators. Restaurants Canada looks forward to working with the provincial government to advance further measures that support the sector’s competitiveness and long-term sustainability. 

Ontario’s restaurant and foodservice industry is a major contributor to the province’s economy and the vitality of its communities. The sector generates $50 billion in annual revenue, contributes approximately 4 per cent of Ontario’s GDP and supports more than 460,000 jobs, making it the province’s fifth-largest employer. Young people account for 40 per cent of these jobs, underscoring the industry’s important role in providing employment opportunities and pathways into the workforce.

• Kelly Higginson, President and CEO, Restaurants Canada

Media Contact:

Milena Stanoeva, Restaurants Canada | media@restaurantscanada.org | 647-921-1758

About Restaurants Canada

Restaurants Canada is a national, not-for-profit association advancing Canada’s diverse and dynamic foodservice industry. Restaurants are a $129 billion industry employing 1.2 million Canadians and the number one source of first-time jobs in Canada. Visit restaurantscanada.org for more information.