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Finance committee  That's correct.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Yes, but the impact is far greater than that. The 1¢ is the producer cost. Then you tack on how we have to make some money. We're not a charity. If we're trying to make a 20% profit, we would add to that. The provincial government adds to that significantly.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Yes, a percentage. On a $9.95 bottle of wine, the 1¢ cent ends up being 5¢ at the top, because of all these additions. The federal and provincial governments—

May 15th, 2017Committee meeting

Murray Souter

Finance committee  When it gets to the price, right?

May 15th, 2017Committee meeting

Murray Souter

Finance committee  If the price is $9.95, I can't go to $10. The LCBO will not allow me to, so I have to absorb it or become uncompetitive. In an industry where we're now doing well, we'd become uncompetitive by pricing ourselves up in these markets that are not going up in price.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Our competitors in France will absorb that. They won't even notice it. They're billion-dollar companies. I'm a $30-million company, including all of my business. It would just absolutely destroy our industry. We have small producers who are generating 5,000, 6,000, or 7,000 cases

May 15th, 2017Committee meeting

Murray Souter

Finance committee  It would be a combination of both. It would be both VQA and ICB.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Exempt, but they—

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Of the total wine sales? Less than 10%.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Yes, so—

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Yes. Ice wine is a very small proportion of the industry in Canada. Domestic consumption of ice wine is very small. To Mr. Harford's comment, this tax, although it's not much—it's $1.8 million worth of revenue to the government—jeopardizes a $9 billion industry.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  We haven't measured the drop, but we can tell you that it would put the $9 billion at risk. At what level, I don't know at this point. It's significant.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Yes, we've seen a significant increase in the number of wineries. We have 700 wineries in the country, and the number is growing every day.

May 15th, 2017Committee meeting

Murray Souter

Finance committee  I'm not sure where the question was in there because we started with tobacco and ended with wine. On the issue of the excise tax for domestically produced 100% VQA wines, it was negotiated in 2006 that it would be excise exempt. The federal government brought that in at that tim

May 15th, 2017Committee meeting

Murray Souter

Finance committee  Yes, that would be correct. We are already fielding those questions right now. We're in the midst of a major expansion that is funded through raising capital in the public markets.

May 15th, 2017Committee meeting

Murray Souter