It’s news to raise a glass to.
The federal government has opted to not go ahead with a planned 6.3 increase in excise tax on alcohol served at restaurants and bars. In last week’s budget, the Liberals announced the increase will be capped at 2 per cent, a rate more in line with inflation.
That has some restaurant owners – like the Balmoral’s Liz Woosey saying “cheers.”
“I am definitely happy that they’ve pulled it back and they aren’t going ahead with the six per cent,” she says. “Times are difficult for restaurant owners. Margins are tight; very tight and they’re just getting tighter as food prices go up. You don’t really want to pass it on to the customer.”
Woosey say’s it’s a good move, because after three years of COVID-related uncertainty, many in her industry expect 2023 to be a bounce back summer.