AS IT HAPPENED Wildfire reaches Jasper Wednesday night, causes 'significant loss'
One of two wildfires threatening Jasper National Park reached the townsite Wednesday night and caused 'significant loss.'
Canadian cannabis business owners are calling for help from the federal government, saying high tax rates and strict rules have left their businesses struggling to survive.
Five Canadian cannabis sector CEOs joined a press conference, organized by the Cannabis Council of Canada, Wednesday on Parliament Hill to discuss the extent of layoffs and facility closures in the industry.
"You're hearing from producers here today because we as growers and manufacturers sit at the heart of the cannabis supply chain," said President and CEO of British Columbia company Pure Sunfarms, Mandesh Dosanjh. "We need to be healthy in order for the whole system to thrive but that's not reality. Producers stand here in peril. Canadian cannabis is in peril."
Canopy Growth Corp., one of Canada's largest cannabis producers, recently announced it would be laying off 800 workers – 35 per cent of its workforce -- and closing one of its facilities in Smiths Falls, Ont.
High excise taxes have been one of the biggest challenges for businesses, the CEOs said in Wednesday’s press conference, adding the 2.3 per cent excise tax rate has become too costly, particularly after a year of increased inflation rates.
Jonathan Wilson, CEO of New Brunswick company Crystal Cure, called for the federal government to reconsider the tax rate as he says it's not only pushing away current businesses but eliminating the path for new producers to enter and grow the sector.
"It's not only a significant burden for producers like us, but it's a barrier of entry for new producers to come into the legal market," Wilson said.
Since the legalization of cannabis in 2018, there have been growing disparities between the legal cannabis sector and the illegal market, as well as the alcohol and tobacco industry, President of the Cannabis Council of Canada, George Smitherman, said.
"We're paying a regulatory fee, which was premised on a profitable industry, which tobacco and alcohol don't pay," Smitherman said Wednesday.
Additionally, strict rules on THC levels of certain products and high tax rates have taken a hit on investors and business owners as they say non-regulated stores have profited from not having to abide by the rules.
A 2022 report found that Canadians investing in cannabis businesses collectively lost more than $131 billion. Industry leaders said they built their business on the federal government's promises for a profitable industry but now that profits are shaking, they're hoping for immediate action.
"What happened to Smiths Falls can happen to any entity in Canada," CEO of Truro Cannabis, Leonard Walter, said. "There [are] federal and provincial regulations that both need to be worked on. There [are] solutions, we just need folks talking."
After a nearly 12-month delay, Health Canada announced in September 2022 it would be conducting a legislative review of the Cannabis Act.
Smitherman said while there has been data collected and surveys created to increase awareness on the problems in the industry, he hopes it'll be enough to be taken into consideration ahead of the 2023 budget.
One of two wildfires threatening Jasper National Park reached the townsite Wednesday night and caused 'significant loss.'
Alberta has called in the Canadian Armed Forces to help assist with the worsening wildfire situation in the province.
U.S. President Joe Biden on Wednesday delivered a solemn call to voters to defend the country's democracy as he laid out in an Oval Office address his decision to drop his bid for reelection and throw his support behind Vice President Kamala Harris.
Staff at a Barrie child care centre say they are frustrated by what they call a local MPP's inadequate response after a car crashed through a window in one of the toddler rooms.
The North American Aerospace Defence Command (Norad) intercepted two Russian and two Chinese bombers flying near Alaska Wednesday in what appears to be the first time the two countries have been intercepted while operating together.
An analyst and an assistant coach with Canada Soccer are being removed from the Canadian Olympic Team and 'sent home immediately,' according to the Canadian Olympic Committee.
After a handful of Australian water polo players tested positive for COVID-19 this week, questions have emerged around how the spread of the disease will be mitigated at the Summer Olympic Games in Paris.
A B.C. man who was hired to help a non-profit build a food hub but instead spent the money on personal expenses – including travel, restaurants, booze and cannabis – has been ordered to pay more than $120,000 in damages.
Two people are dead and two others suffered serious injuries following a shooting that police have described as a 'gun battle' outside a plaza in Scarborough, Ont. early Wednesday morning.
A local First Nations elder and veteran is helping to bring the Ojibwe language to a well-known film for the first time.
A cat who fled her Montreal home nearly a decade ago has been reunited with her family after being found in Ottawa.
A woman in Waterloo, Ont. is out thousands of dollars for a car crash she wasn’t involved in.
A swarm of bees living in a lamppost in Winnipeg’s Sage Creek neighbourhood has found a new home for its hive.
Around 100 acres of Manitoba Crown Land near the Saskatchewan border is being returned to the Métis community.
Nova Scotia is suspending the licensed Cape Breton moose hunt for three years due to what the province is calling a “significant drop” in the population.
A well-known childhood prank known as 'nicky nicky nine doors,' or 'ding dong ditch,' has escalated into a more serious game that could lead to charges for some Surrey, B.C. teens.
It's been more than a month since their good friend was seriously hurt in an accident and two teens from Riverview, N.B., are still having a hard time dealing with it.
Halifax bridges have collected thousands of coins from around the world.