In this Craft brewery in at toico Canada's Finance Minister came to address growing anger in the beer and hospitality industries over taxes I mean people are only going to pay so much for beer right piling on new taxes would have been really disastrous as of April 1st the alcohol excise tax known as the beer tax was set to go up by 4.7% and with inflation already causing consumers to make more choices between food rent and Extras that cost increase tied to inflation was seen by many as crippling especially for those in the craft beer sector the government had Been under pressure to back down as it juggles priorities ahead of an April 16th budget if it's going to benefit these businesses you know I'm all for it and also you know as consumers we're feeling the pinch in a lot of ways these days Christ Freeland said the government Got the message I'm really glad to announce that our government will be extending this 2% cap on the excise duty for an additional two years I hope that's good news for you ER really positive news today uh a nearly 5% beer tax increase on April 1st would have really been devastating not Only to Brewers but the hospitality sectors Aaron proor has been in business here eight years it's slim margins in craft beer especially as our supply chain gets more strained and more expensive mascot Brewery and others of a similar size will save about $80,000 a year as a result of the changes I have Nine micro breweries in this riding I fight for them every day you know this this is going to make a big difference there are more than 1,300 breweries in Canada 88% of beer consumed across the country is made within our borders our government really recognizes the value particularly of small businesses a Decision just days before the tax was scheduled to go up shot Shay Global News