Economy

Ford reveals details of buck-a-beer plan

Ford reveals details of buck-a-beer plan

A Toronto beer store is pictured on Thursday, April 16, 2015.

Sources with direct knowledge of the plan say that other enticements may include limited product discounts and in-flyer LCBO promotions for companies that lower beer prices to $1 in time for Labour Day.

Brewers are not required to charge the lower rate and few in the province sell at the current minimum.

A buck a beer is nearly here.

It is unknown if any additional Ontario craft breweries will participate.

"If beer goes up in consumption over what - 20 cents, 25 cents?" "They created a new rule, another piece of red tape that made a buck-a-beer illegal", said Mr. Ford.

Up until 2008, the minimum price for a beer was $1 until the provincial Liberals raised it to $1.25.

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"Nobody is being forced to lower their prices and there will be no subsidies or tax handouts", Ford said, calling the move a "win-win". "I think people in Ontario are mature enough.to know when they've had one too many".

Ford has also vowed to expand the sale of beer and wine to corner and box stores in Ontario.

The lower price, which is limited to beer with an alcohol volume of less than 5.6 per cent, will take effect on August 27 and is expected to be reflected on store shelves on Labour Day weekend.

The source said the government hopes to get brewers on board by launching what it calls a "buck-a-beer challenge" with incentives for those who cut prices to $1.

The Tories have previously said that the return of buck-a-beer would see more competition in the beer market without affecting the province's revenues from beer and wine taxes.

Finance Minister Vic Fedeli said there are no financial incentives from the government and the tax portion of the cost of beer is not being reduced.

Annual indexing for all packaged beer will be suspended to maintain the $1.00 minimum floor price over time.