Latest news with #MatthewHolmes
ABC News
a day ago
- Sport
- ABC News
Ghanaian-Australian AFL players making their mark in the league.
Quaynor was the first of the quartet to make his AFL debut. ( ABC News: Matthew Holmes )
Yahoo
4 days ago
- Business
- Yahoo
Canada's digital services tax is 'needlessly inflammatory' during trade talks with U.S.
Canada's implementation of a digital sales tax on foreign technology companies at the end of June could exacerbate tensions during key trade negotiations with the United States, say business leaders on both sides of the border. 'At this current time with a trade war and an active negotiation coming out of the G7, it just seems needlessly inflammatory,' Matthew Holmes, executive vice-president and chief of public policy at the Canadian Chamber of Commerce, said. 'We're not arguing for the government to make concessions that won't help realize a resolution to the trade conflict, but it does seem like it could lead to a worse outcome.' The digital services tax, which became law last year, applies a three per cent levy on revenue earned from digital services that rely on engagement, data and content contributions from Canadian users. It also applies to certain sales or licencing of Canadian user data. Finance Minister François-Philippe Champagne last week confirmed the tax would be going ahead at the end of this month, despite it being a major U.S. trade irritant. 'This was voted on by Parliament, so we're going ahead with the DST,' he said on Thursday. On June 30, businesses will have to make their first payments retroactive to Jan. 1, 2022. Most of the revenue will be collected from U.S. tech giants. The DST was first challenged by the Joe Biden administration, with former U.S. trade representative Katherine Tai launching dispute settlement consultations under the Canada-United States-Mexico Agreement (CUSMA) last August. Since then, Donald Trump's administration has renewed its focus on what it views as unfair fines and levies on U.S. companies from foreign countries. In January, Trump also removed the U.S. from the Pillar One Reform by the Organization of Economic Co-Operation and Development that is trying to settle global taxing rights for cross-border digital services. Current U.S. trade representative Jamieson Greer also mentioned the DST in a list of trade irritants with Canada in a March 1 report on foreign trade barriers. Other countries, including France, Italy and the United Kingdom, have implemented their own digital sales taxes. The Canadian federal government and the Trump administration are currently in talks on a new economic and security deal, with a deadline of July 21. Most Canadian goods are exempted from tariffs imposed by Trump, but there remains a 25 per cent levy on cars and a 50 per cent tariff on steel and aluminum. Asked if the federal government is considering a pause on the DST in the context of trade discussions with the U.S., Champagne said 'all of that is something that we're considering as part of broader discussions.' On June 13, 21 Republican lawmakers from the U.S. House of Representatives sent a letter asking Trump to get the tax removed during trade negotiations with Canada or to retaliate if the tax is implemented. 'If Canada decides to move forward with this unprecedented, retroactive tax, it will set a terrible precedent that will have long-lasting impacts on global tax and trade practices,' the letter said. 'We are confident that any Digital Sales Tax Act collections will be met with a swift U.S. government response.' The letter said Canada's DST will cost U.S. tech companies $2 billion in retroactive taxes and $2.3 billion annually going forward. One of the signatories, Congressman Ron Estes, said the tax is discriminatory and a 'shakedown' of primarily U.S. tech companies. 'It is absurd to think that the United States would simply sit idly by while our allies retroactively target our innovators and treasury, and it is further proof that the United States must implement common sense measures like Section 899 in our recently passed House budget reconciliation bill,' Estes said in a statement. Section 899 seeks to tax foreign investment from countries Trump believes have unfair foreign taxes on American companies. The bill is currently making its way through the U.S. Senate. Graham Davies, chief executive of the Washington, D.C.-based Digital Media Association, which represents music streaming services, said the DST is coming at a time when tech companies are also being asked to pay another tax under Canada's recently passed Online Streaming Act. 'In terms of their concerns, it's the combination of having the digital services tax, which has already raised concerns in terms of the bilateral relationship between Canada and the U.S., added onto that the Online Streaming Act, which adds another five per cent in tax,' he said. Should Canada target Big Tech in trade war negotiations with the U.S.? Will Canada's Digital Services Tax survive Trump's tariffs assault? Holmes said most tech companies will end up downloading the costs of the DST onto Canadian companies that run businesses on their platforms and, ultimately, consumers. 'We have from the very beginning said this will be inflationary,' he said. 'As more businesses and as more of our lives include digital transactions, this will just add to the affordability crisis.' • Email: jgowling@ Sign in to access your portfolio
Wall Street Journal
08-03-2025
- Business
- Wall Street Journal
Canadian Chamber of Commerce: Tariff Threats Hurting Economy
The Canadian Chamber of Commerce on Thursday said that the threat of tariffs has been hurting the Canadian economy and called for the singing of a new USMCA agreement. Businesses have delayed investment in Canada, consumer confidence has fallen, capital flows are stalled and markets have become volatile because of the tariff threat, said Matthew Holmes, executive vice president and chief of public policy for the Canadian business group.
Yahoo
06-03-2025
- Business
- Yahoo
Demolition of Assembly Rooms could be 'years away'
Councillors say they are concerned the demolition of a derelict city venue could still be "years away", with plans to regenerate the area still in their early stages. The Assembly Rooms have been unused for 10 years in Derby after a fire and had been due to be knocked down last autumn, but the plan was postponed. Senior politicians say they still have not seen details on how deliverable a new Market Place scheme will be - a key condition for demolition to take place. On Tuesday, officers also could not provide a meeting of Derby's regeneration committee with an anticipated review of the city's parking facilities and how more capacity could be provided, because the review had not been completed. Nadine Peatfield, leader of authority, said at the time that the move would allow the demolition and subsequent construction work for the new scheme to take place consecutively, instead of the site standing vacant. The Assembly Rooms car park has been closed since last year, initially in anticipation of demolition of the venue. The budget the city council passed last week had around £3m earmarked for the demolition of the venue, but no money has been set aside for the new scheme in the budget documents. Tuesday's meeting of the regeneration committee heard that officers hope to complete a business case for the scheme and a full planning application for leaders to sign off by the summer, which would pave the way for demolition. It is understood that a finalised business plan, planning application and contractual agreements with developers must be in place for officers to have enough confidence in the scheme's delivery to allow the demolition to go forward. However, the Conservative vice chair of the committee, councillor Matthew Holmes, cast doubt on the timetable for a final blueprint to be completed and signed off. "The bar is set quite high, quite rightly, because what we don't want is demolition to be allowed and the area to not be developed," he told the BBC. "Nobody has explained to anybody, any councillor that I'm aware of, how much this scheme is going to cost, and what the council's expected to put in there, and how the money is going to be does that confidence come from? "If I was to give an estimation of when I feel the assembly rooms will be demolished and we'll actually see things happening on the site...I think we're a good two, three years away. "I don't think actual demolition will happen this year." Chris Poulter, the former Conservative leader of the council, told officers at the meeting that he was concerned a "spending gap" would emerge without the right level of investment. "This site has been a thorn for a while. I don't think there's anybody who doesn't want to see it developed," he said. The new Market Place scheme will be delivered in phases, beginning with the construction of new hospitality venues, including a rooftop bar. Phase two involves plans for new office space, and the third phase would centre on a new four-star hotel. Draft designs are currently being reviewed by the council. A "soft consultation", which will not inform the final planning application, will take place this spring. Follow BBC Derby on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@ or via WhatsApp on 0808 100 2210. Demolition of derelict city venue postponed Derby City Council
BBC News
06-03-2025
- Business
- BBC News
Demolition of Derby's Assembly Rooms could be 'years away'
Councillors say they are concerned the demolition of a derelict city venue could still be "years away", with plans to regenerate the area still in their early Assembly Rooms have been unused for 10 years in Derby after a fire and had been due to be knocked down last autumn, but the plan was politicians say they still have not seen details on how deliverable a new Market Place scheme will be - a key condition for demolition to take Tuesday, officers also could not provide a meeting of Derby's regeneration committee with an anticipated review of the city's parking facilities and how more capacity could be provided, because the review had not been completed. Nadine Peatfield, leader of authority, said at the time that the move would allow the demolition and subsequent construction work for the new scheme to take place consecutively, instead of the site standing Assembly Rooms car park has been closed since last year, initially in anticipation of demolition of the venue. The budget the city council passed last week had around £3m earmarked for the demolition of the venue, but no money has been set aside for the new scheme in the budget documents. Tuesday's meeting of the regeneration committee heard that officers hope to complete a business case for the scheme and a full planning application for leaders to sign off by the summer, which would pave the way for is understood that a finalised business plan, planning application and contractual agreements with developers must be in place for officers to have enough confidence in the scheme's delivery to allow the demolition to go the Conservative vice chair of the committee, councillor Matthew Holmes, cast doubt on the timetable for a final blueprint to be completed and signed off. "The bar is set quite high, quite rightly, because what we don't want is demolition to be allowed and the area to not be developed," he told the BBC. "Nobody has explained to anybody, any councillor that I'm aware of, how much this scheme is going to cost, and what the council's expected to put in there, and how the money is going to be does that confidence come from?"If I was to give an estimation of when I feel the assembly rooms will be demolished and we'll actually see things happening on the site...I think we're a good two, three years away. "I don't think actual demolition will happen this year." Chris Poulter, the former Conservative leader of the council, told officers at the meeting that he was concerned a "spending gap" would emerge without the right level of investment."This site has been a thorn for a while. I don't think there's anybody who doesn't want to see it developed," he said. The new Market Place scheme will be delivered in phases, beginning with the construction of new hospitality venues, including a rooftop bar. Phase two involves plans for new office space, and the third phase would centre on a new four-star designs are currently being reviewed by the council. A "soft consultation", which will not inform the final planning application, will take place this spring.
