Balanced budget good news for B.C. restaurants

VICTORIA, Feb. 17, 2015 /CNW/ - British Columbia's third consecutive balanced budget is welcome news for the province's $10-billion restaurant industry. Ongoing balanced budgets reduce debt-servicing costs and take pressure off government to raise personal and business taxes. As a result, British Columbians will continue to have more disposable income to spend in restaurants.

"Today's budget will help British Columbia's restaurant industry continue to lead the country in sales growth and create thousands of new jobs," said Mark von Schellwitz, Restaurants Canada's Vice President, Western Canada. "We also support budget measures to reduce the provincial tax burden for lower-income British Columbians. The enhancement in the B.C. tax reduction credit will allow individuals to earn more than $19,000 a year before paying provincial income tax."

Restaurants Canada was also pleased the Minister's budget speech referenced the Informed Dining program as an example of ongoing efforts to help British Columbians get and stay healthier.

"Restaurants Canada and participating restaurants are proud to play a role in helping their guests achieve health goals by providing nutrition information through the Informed Dining Program," said von Schellwitz.

British Columbia's restaurant industry is the third-largest private-sector employer in the province. It directly employs more than 178,000 people in every community across the province. In 2014 alone, the industry created 4,200 jobs and saw sales growth of 7.5 per cent.

Restaurants Canada (formerly the Canadian Restaurant and Foodservices Association) is a national association comprising 30,000 businesses in every segment of the foodservice industry, including restaurants, bars, caterers, institutions and their suppliers. Through advocacy, research, and member programs and services, Restaurants Canada is dedicated to helping its members in every community grow and prosper.

SOURCE Restaurants Canada

Mark von Schellwitz, Vice President, Western Canada at 604-685-9655 or 604-809-5719 (cell) or email [email protected]; or Prasanthi Vasanthakumar, Communications Specialist at 416-649-4254 or 1-800-387-5649 ext. 4254, or email [email protected]