With the aversion of a bang past times Ontario’s LCBO workers, most of us volition in all likelihood plough our thoughts to immersion inwards our favorite drinkable equally nosotros deed into the Canada Day long weekend.
What the recent dispute should likewise spark is some introspection regarding the exceptional importance of Ontario’s crown corporations – namely the Liquor Control Board of Ontario (LCBO) together with the Ontario Lottery together with Gaming Corporation (OLG) – equally sources of Ontario authorities revenue.
The accompanying figure plots information for revenues obtained from selected Ontario budgets for 4 financial years: 2000, 2006, 2011 together with 2016. Both agencies are multi-billion dollar enterprises together with convey inwards substantial revenues for Ontario’s government. In 2016, the OLG brought inwards $2.2 billion inwards revenues for Ontario spell the LCBO slightly less at only nether $2 billion. With full revenues of nearly $128 billion inwards 2016, these ii items accounted for nearly 3.3 per centum of Ontario authorities revenue.
What is to a greater extent than interesting is the surgery over fourth dimension of these ii items equally authorities revenue sources. Essentially, lottery together with gaming revenues accept been quite apartment spell authorities revenues from the sale of alcohol accept been growing quite robustly. Between 2000 together with 2016, revenues from the OLG grew from approximately $1.9 to $2.2 billion dollars, an growth of sixteen percent.
Meanwhile, over the same period, revenues from the LCBO (which incidentally produce non include revenues from liquor licenses/beer together with vino taxes that inwards 2016 came inwards a $0.582 billion) rose from approximately $0.8 to $2 billion – an growth of nearly 132 percent. While OLG revenues accept essentially exhibited stagnant growth, the contrary is the illustration for the LCBO. Indeed, to aid proceed things inwards perspective, full authorities revenue over the menses 2000 to 2016 grew 104 percent. Thus, LCBO revenues to the authorities accept been growing faster than its full revenues.
I am non surprised that a bang was averted. The LCBO has been doing really well. In a footing of rising provincial authorities spending, the alcohol (and its revenues) must flow!
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