Millwright Regional Council – Canada and Bob Bailey, MPP Sarnia-Lambton
Sarnia, On. – The Millwright Regional Council – Canada met with MPP Bob Bailey, Sarnia-Lambton to discuss tax fraud and the underground economy in Canada’s construction industry, and ways to partner together on this issue.
The underground economy in Canada’s construction industry undermines the countries fiscal position and hurts legitimate contractors. The residential construction industry accounted for 35.0% ($23.9 billion) of all underground economic activity which includes lessors of real estate 12.7% and retail trade 10.5% combined with accommodation and food services 7.3%.
“Construction industry tax fraud negatively affects economic growth of the country and reduces tax revenues for all levels of government, putting pressure on the government’s ability to provide the services and benefits that Canadians enjoy and expect.”
Said Steve Laur, MRC Business Manager, UBC Millwright Local 1592,
According to Statistics Canada, the total value of underground economic activity in 2021 was highest in the four largest economies: Ontario ($26.9 billion), Quebec ($15.5 billion), British Columbia ($11.1 billion) and Alberta ($6.8 billion). These four economies accounted for 87.9% of total underground economy, while the total GDP created by these four provinces accounted for 87.1% of total economy.
Underground economic activity negatively affects economic growth in Canada. It also reduces tax revenues for all levels of government, putting pressure on the government’s ability to provide the services and benefits that Canadians enjoy and expect. Moreover, these illegal activities continue to erode Canadian’s faith in the integrity and fairness of Canada’s tax system, undermine the competitiveness of honest businesses, as well as cause honest taxpayers to bear the tax load of those who cheat.
We are encouraged by MPP Bailey’s support to end construction industry tax fraud and working together towards solutions that reign in the underground economy.
The UBC Tax Fraud Days of Action is taking place across Canada and the United States April 13-19, 2024, to bring awareness to the issues of tax fraud and the underground economy.
Safety is our Highest Priority. Learn more at www.stoptaxfraud.ca
About the Millwright Regional Council – Canada
The Millwright Regional Council – Canada (MRC) is composed of thirteen affiliated Local Unions of the United Brotherhood of Carpenters and Joiners of America (UBC) across Canada. UBC millwrights are vital partners in diverse industries such as energy, automotive, aerospace, food processing, and pharmaceuticals. ubcmillwrights.ca
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| Andrew Bredin
Director of Communications |
