N.L.’s budget has tasty morsels for restaurant operators

Published April 7, 2017

Newfoundland and Labrador’s budget, delivered on Thursday, has good news for restaurateurs. It continues cost control but doesn’t include any tax or fee increases. Here’s what you need to know:

  • The Gas Tax drops by 12 cents, which will increase disposable income, lower transportation costs and spur restaurant spending.
  • The Newfoundland Liquor Corporation resists pressure to increase producer prices or raise additional provincial taxes, and will not hike beverage alcohol prices for customers.
  • There may be a minor price adjustment in alcohol due to the federal government increasing the alcohol excise tax.

The province has cut its forecasted deficit from $1.8 billion to $1.1 billion, and is forecasting a $778 million deficit for this year.

wpengine

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