Canadians paying hundreds of dollars a year in “theft tax”
PRINCE GEORGE – According to a report from the Save our Streets Organization, Canadians are paying an annual “theft tax” of $590 due to retail theft, violence, and vandalism. The organization’s Co-founder Jess Ketchum says this is because damages and costs incurred through theft often have to get passed down to the consumer in order to keep a business profitable.
“The Retail Council of Canada has estimated that to recover that you would need to have additional revenue of over $36 billion. And that doesn’t even include $1 billion in lost taxation revenue. Retailers are also spending a lot of additional money on security, and it’s estimated again by the Retail Council that’s about $2 billion a year. We use the $590 figure, but the Retail Council would tell you that it’s even more than that when you take into consideration the lost revenue to the government, which also cost the taxpayer,” Ketchum said.
Save our Streets says organized crime is playing a bigger role than you may think in retail theft, as Ketchum explains there is often a system in place to recruit individuals.
