07:59:22 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Molson Coors Canada Inc
Symbol TPX
Shares Issued 9,362,866
Close 2024-01-10 C$ 84.60
Market Cap C$ 792,098,464
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FP/CP say Molson hears craft brewers feel stifled

2024-01-11 09:07 ET - In the News

The Financial Post reports in its Thursday, Jan. 11, edition that Ontario craft brewers say the province needs to speed up a review of alcohol taxes because the current system is "stifling" the industry and could lead to breweries closing. A Canadian Press dispatch to the Post reports that the president of the Ontario Craft Brewers Association says in submissions for the provincial spring budget that the group welcomes the recent announcement that sales of beer, wine and ready-to-drink cocktails will be expanded to convenience stores by 2026. However, Scott Simmons says that if the current tax structure remains in place until then, there may be fewer local breweries to take advantage of the new marketplace. Finance Minister Peter Bethlenfalvy has promised a review of alcohol support programs, taxes and fees as part of the implementation of the new system, but Mr. Simmons wants to see changes in this upcoming budget. He says Ontario has the highest craft beer taxes in Canada, and if changes are made it will help the industry grow. A spokesman for the Ministry of Finance said he could not comment.

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