MICHAEL MAGNUSSON
PENTICTON – A recent survey conducted by the Penticton & Wine Country Chamber of Commerce has revealed that the federal government’s upcoming GST holiday, set to begin on December 14th, has been met with mixed reactions from local businesses.
“80% of local businesses who responded do not expect this tax holiday will have any impact on sales volumes, followed by another 10% as unsure” reports President Jordan Knox.
A significant number of businesses are also concerned about the time, energy, and expense needed to change their systems by the December 14th deadline to make sure their registers are removing GST on items the government has said will be exempt.
Businesses went on to criticize the initiative as a short-term, politically motivated measure offering limited relief during a time of significant economic pressure. Many called for more meaningful reforms, such as eliminating GST on essential goods, increasing GST rebate cheques, or providing direct financial support to businesses and families who continue to struggle with the effects inflation and increased costs of living.
“While the GST holiday may provide some relief for certain consumers, our survey highlights a clear need for more substantial and well-communicated policies to support businesses and consumers alike effectively. We therefore encourage the federal government to engage more directly with local business communities to design solutions that address their real challenges,” concludes the Chamber’s Executive Director Michael Magnusson.
Michael Magnusson is the Executive Director of the Penticton & Wine Country Chamber of Commerce