Toronto Board of Trade/Decima
survey finds consumer habits would change

Toronto, June 18, 2007 - A new Decima Research survey, conducted for the Toronto Board of Trade, shows 61% of area residents oppose the City’s proposed eight new taxes. The study of more than 1,000 consumers across the GTA also indicates that the new taxes would change consumer habits and result in lost sales for Toronto businesses.

“The results underline what the business community has been saying about these taxes,” says Board of Trade President & CEO Carol Wilding, “They will harm Toronto businesses by increasing costs and reducing sales. The bottom line will be a direct hit to Toronto’s economy and competitiveness.”

Wilding notes that, according to the poll, more than half of Torontonians would shop outside the city to avoid new taxes, and the vast majority of 905-area residents would cut down on their trips into Toronto. The full results are available on the Board of Trade website at www.bot.com. [SEE BACKGROUNDER FOR HIGHLIGHTS]

Jeff Walker, Senior VP of Decima Research, who led the polling team, says, "Most Toronto residents recognize that the City faces difficult financial circumstances, but are divided on the proposed taxes. Residents are clearly resistant to the introduction of several of these tax measures, such as the land transfer tax and the vehicle registration tax, but there is moderate acceptance of some of the other proposals."

“There are important messages for City Hall from this survey,” says Wilding, “First, that business is right to worry about the impact of these taxes. Second, that taxpayers oppose these levies, particularly the ones that would raise the most money. And, third, that opinion was split whether poor management or downloading was more to blame for the city's poor financial situation. The City faces an uphill battle on this issue.”

The Board of Trade is also conducting a survey of its 10,000 business and individual members to obtain the business viewpoint on the proposed taxes.

“Our on-line survey closes on Wednesday,” says Wilding, “Results so far show business people are even more strongly opposed to the taxes, and more likely to demand greater cost efficiencies at City Hall. Also, the main concern of business is the proposed parking space tax, whereas consumers are most worried about a land transfer tax.”

The Toronto Board of Trade is the champion of a competitive and vibrant Toronto with a mandate to serve, represent and unite the city’s business community. Founded in 1845, Canada’s largest chamber of commerce operates at locations across Toronto. Further information about Board events, policies, advocacy and products is available on its website at www.bot.com.