Ford Government's LCBO Modernization: Revenue Drops

0:00Ontario's four government is modernizing the LCBO with tax breaks for local producers and cuts to markups, spending $200 million on the effort. This push aims to create fair competition but is driving down revenue from alcohol sales into provincial funds. Projections in the 2026 budget show LCBO revenue at $1,700 million for the 2025-26 year. That's lower than the $1,900 million forecasted last year and a steep fall from $2,400,400 A. Decay to go, which equals $3,100,100,000 adjusted for inflation. People are drinking less overall, especially younger folks and shifting toward ready-to-drink beverages according to the finance minister. He expects revenues to edge up slightly to $1,900,900 next year as patterns evolve. Other alcohol taxes are plunging, too, with just $262 million expected next year compared

1:01to $593 million in 2023-24. Opposition leaders warn these changes risk a reliable source of funds for health care and union jobs as the province balances modernization with shifting habits. You've been listening to Vancouver News today, AI-powered local news.