Wynne supports Canada-EU deal, but still has concerns over compensation
Oct 20, 2013 / 1:20 pm
TORONTO - Ontario Premier Kathleen Wynne says she supports the tentative free trade agreement between Canada and the European Union.
She says she does have some concerns about how some provisions will affect Ontario, but she won't block the deal.
Economic Development and Trade Minister Eric Hoskins says the federal government has committed to compensating the dairy sector should the deal affect their bottom line.
He says Ottawa has also promised to compensate the province for any additional cost to the health-care system that may result from the extension of patents for some brand-name drugs.
The patent extension could increase drug costs for the provinces because it would take longer for cheaper, generic versions to become available.
But Hoskins says he's not heard back about compensation for Ontario's wine and spirits industry, which could be affected by the lowering of fees on European wines.
He says the fees, which are only applied in Ontario, are charged to European manufacturers for handling, warehousing and distribution of their wines.
Ontario is being asked to charge the fee based on volume, rather than per bottle, which could lower the price of more expensive European wines.
"We haven't received that assurance," he said.
Finance Minister Charles Sousa will be asking for a meeting with his federal counterpart Jim Flaherty to talk about it, Hoskins said.
But it's still an agreement in principle, so it could be years before the free trade deal is finalized and comes into force, he said.
"So in that ensuing period, there's a lot of work for Ontario to continue to do with our federal counterparts to ensure that we have the assurances that we need and that we do mitigate and minimize the potential negative impact on Ontario sectors," Hoskins said.
The agreement in principle has to be approved by 10 Canadian provinces and all 28 members of the European Union.
Read more Business News
|QHR Technologies Inc||1.20||-0.08|
|Anavex Life Sciences||0.37||-0.01|
|Copper Mountain Mining||1.56||+0.02|
This column is the last of three, for how to prove your personal injury claim. It is the piece de resistance of the trilogy, the Chuck Norris piece – the final say! As mentioned in the first two...
The bank manager just phoned and asked for full and immediate repayment of the line of credit because the latest, (and they were late!), financial statements showed continuing losses and falling sales...
Recently I recorded a video series for my keynote speaking business. It was called from Faith to Future. In one of the episodes, I talked about the concept of using hard work to get out of a difficul...
- Markets set to rise on string of economic data amid concerns over Fed stimulus
- Greek lawmakers pass 2014 budget that forecasts return to growth
- Senate proposal: open Mexico's state-run oil sector to private companies
- Expert tells jury Warhol portrait of Fawcett at centre of dispute is worth $12 million
- Newfoundland premier will announce financing for $7.7B hydro project: sources
- Judge orders Colo. cake-maker to serve gay couples for wedding celebrations
- Custom offers, guidance as you walk around Apple stores with precise location technology
- Most actively traded companies on the TSX, TSX Venture Exchange markets
- Housing starts fall in November: CMHC
- Markets advance, strong U.S. jobs data competes with Fed tapering concerns
- Canadian dollar closes lower amid strong Canadian, U.S. jobs reports
- Google, Facebook, other major tech companies call for tighter controls on government snooping