One restaurant operator in Victoria has decided to take much of the burden on his own shoulders, by dropping prices to offset the increasing costs to loyal patrons.
According to a recent story in Victoria and Vancouver Island’s Times Colonist newspaper, owner Bill Lang cut the prices on 45 of the menu items at his Princess Mary Restaurant by seven per cent, to help shoulder the extra load his customers were facing after the province levied its new Harmonized Sales Tax on Canada Day (July 1).
Thanks to some serious lobbying on behalf of the Canadian Restaurant and Foodservices Association, the provinces’ restaurant industry has long disputed the HST, as it believes it will cost the business up to $750 million a year.
Will this risky move work, and is this a strategy more restaurateurs are considering? Only time will tell. To read the entire story, click here.