Conservatives raise $8 billion on taxes on over 1,200 products including bicycles

OTTAWA – Today New Democrats slammed the Conservatives for the $8 billion tax raise on Canadian consumer goods, including bicycles. 

“Stephen Harper promised Canadians that he would not impose new taxes on them,” said NDP National Revenue Critic Murray Rankin (Victoria). “But he is raising taxes on bicycles and over 1,200 types of consumer goods.” 

The Conservative tax increase targets bicycles by raising tariffs from 8.5% to 13%. Canada imports $125 million in bicycles from the 72 countries impacted by the Conservative tax increase. The tariff increases will cost Canadian cyclists between $5 and $6 million annually. 

Rankin made his comments at the popular bicycle shop Joe Mamma where Jim Flaherty held a press conference to present his 2012 omnibus Budget Implementation Act. 

“These tax hikes hurt Canadian businesses who will now find it even harder to compete with the US as the cross-border price gap widens,” said Rankin. “The Government should be supporting Canadian retailers, not forcing cash-strapped shoppers to head south of the border.”