Ontario declares war on the underground economy, says government losing $2 billion in revenue from the construction sector alone
The Ontario government is going after the underground economy in an effort to boost revenues and health and safety.
Labour Minister Chris Bentley said Ontario and the federal government are losing an estimated $2 billion in revenue from the construction sector alone.
“The underground economy is insidious,” said Bentley in a speech to the Economic Club of Toronto. “It places tremendously unfair pressure on legitimate businesses, deprives governments of tax dollars and jeopardizes the health and safety of workers.”
Over the next few months, the government said it will:
•train inspectors to deal with issues related to the underground economy;
•expand efforts to identify unregistered operators in the construction sector;
•undertake a public awareness campaign; and
•look to expand and improve enforcement.
Bentley said the money being lost could be used to improve health care, education and provide additional revenue to cash-strapped cities.
Labour Minister Chris Bentley said Ontario and the federal government are losing an estimated $2 billion in revenue from the construction sector alone.
“The underground economy is insidious,” said Bentley in a speech to the Economic Club of Toronto. “It places tremendously unfair pressure on legitimate businesses, deprives governments of tax dollars and jeopardizes the health and safety of workers.”
Over the next few months, the government said it will:
•train inspectors to deal with issues related to the underground economy;
•expand efforts to identify unregistered operators in the construction sector;
•undertake a public awareness campaign; and
•look to expand and improve enforcement.
Bentley said the money being lost could be used to improve health care, education and provide additional revenue to cash-strapped cities.
