It’s been three years since the federal government repealed the 10 per cent excise tax on jewellery.
Earlier this month, Conservative MP John Duncan (Vancouver Island North) celebrated the passing of his private member’s bill in a statement read in the House of Commons, reminding Liberals that under their plan, the tax would have only just now been repealed.
In 2006, the newly elected minority Conservatives removed the tax, saving the industry millions of dollars and putting it on a more level playing field with imported goods.
“This tax was discriminatory and very counterproductive for Canadian jobs,” Duncan said. “I have heard from jewellers what a difference this has made to their business. Eliminating this tax was not just the right thing to do, it has also benefited consumers and added jobs to our economy.”
Canadian Gem president Pierre Akkelian—who is also past president of the Canadian Jewellers Association (CJA) and a key player in the fight to eliminate the tax—noted, “the abolition of the tax has saved Canadian consumers a few hundred million dollars annually and transformed the jewellery industry by radically reducing the underground economy.”
