I'll take that question.
Thank you for your compliment, Mrs. DeBellefeuille. We have in fact won gold medals in a number of Canadian and international competitions.
If the tiered relief proposal were implemented, approximately 90% of Canadian distilleries would be in the first tax bracket. That would represent an annual tax break of approximately $150,000 per distillery in Canadian dollars. That's a substantial amount of money for those distilleries. Lastly, it would give oxygen to an industry that really needs it and that still has to deal with tax rates that date back to the prohibition era.
Distilleries have not yet received a break, unlike microbreweries and wine producers. The brewing sector and the wine industry have had relief over the past few years. Distilleries, on the other hand, have seen four rate increases in the last five years. So we're not keeping up at all.
This relief would help us remain competitive with foreign products here in Canada. It would also allow us to increase our liquidity to further move into U.S. and European markets. We could also develop new technologies and remain competitive and innovative. That's not to mention the beneficial effect on local tourism in our regions.