The Millwright Regional Council of Ontario Discuss Solutions with MPP Jamie West to Rein in the Underground Economy
TORONTO, April 29, 2021 /CNW/ - The Millwright Regional Council of Ontario met with MPP Jamie West, Sudbury on Wednesday, April 28, to discuss tax fraud and the underground economy in the Ontario construction industry, and ways to partner together on this issue.
As stated by Dave McBride, MRCO Millwright Local 1425 Business Representative, "This activity negatively affects economic growth in Canada 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.
Between 2013 and 2017, the Province of Ontario and Federal Government lost between $1.8 billion and $3.1 billion annually as a result of contractors operating in the underground economy. This represents an increase of 30% since OCS last study in 2009 when annual revenue losses were in the order of $1.4-$2.4 billion.
Statistics Canada estimated gross domestic product (GDP) at market prices for underground economic activity in Canada reached $61.2 billion, or 2.7% of total GDP, in 2018.
We are encouraged by MPP Jamie West's support to end construction industry tax fraud and working together towards solutions that rein in the underground economy.
The UBC Tax Fraud Days of Action took place across Canada and the United States April 14-17, 2021 to bring awareness to the issues of tax fraud and the underground economy. Learn more www.stopthefraud.ca
About the Millwright Regional Council of Ontario (MRCO)
The Millwright Regional Council of Ontario (MRCO) is composed of eight affiliated Local Unions of the United Brotherhood of Carpenters and Joiners of America (UBC) across the Province of Ontario. We represent thousands of woman and men working as progressive cross-trained construction and maintenance professionals with exceptional skills to install, maintain, diagnose, and repair precision machinery, UBC millwrights are vital partners in industries as diverse as energy, automotive, aerospace, food processing, pharmaceuticals and more.
SOURCE Millwright Regional Council of Ontario (MRCO)
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