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B.C. businesses seek concrete economic 含羞草研究社榲ision含羞草研究社 from parties ahead of election

Advocates raise concerns over high cost of doing business, government deficits
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(Black Press Media file photo)

Leaders from a wide array of businesses in British Columbia are urging the province含羞草研究社檚 political parties to 含羞草研究社渄eliver a clear and actionable plan含羞草研究社 for revitalizing an economy that they say has pushed many residents into a 含羞草研究社減ersonal recession.含羞草研究社

Groups representing the forestry and mining industries, independent businesses and contractors say they have sent a survey of 10 questions to leaders of political parties ahead of the fall election, asking for a clear response on their economic visions for B.C. and concrete steps to get there.

Business Council of British Columbia president Laura Jones says that her group is seeing more residents expressing a loss of hope in their 含羞草研究社減rospect of building a good life含羞草研究社 in the province due to economic concerns, even if B.C. isn含羞草研究社檛 technically in a recession.

Other business leaders say they want the next B.C. government to answer concerns about the high cost of doing business, government budget deficits, bureaucracy in delaying permitting of projects, public safety and acute labour shortages.

The call for information comes the same day B.C.含羞草研究社檚 Finance Minister Katrine Conroy unveiled the government含羞草研究社檚 first quarterly financial report, forecasting consecutive budget deficits for the next three fiscal years, including an almost-$9-billion deficit for 2024-2025.

Greater Vancouver Board of Trade president Bridgitte Anderson says businesses remain in the dark about the economic platforms of the major parties, and fiscal reports from the province paint a 含羞草研究社渄ire含羞草研究社 picture for B.C.含羞草研究社檚 finances that requires billions in 含羞草研究社渢hat need to be cut or increased in taxes含羞草研究社 for stability.

She says businesses are asking those who could form the next government 含羞草研究社渢o show us a vision含羞草研究社 on how the provincial economy can be rejuvenated.

含羞草研究社淚 think there含羞草研究社檚 a lot of voters who are undecided right now, within the business community and public at large,含羞草研究社 Anderson says. 含羞草研究社淎nd I think this is an opportunity for all of the parties to look at their platforms and to appeal to the voters.

含羞草研究社淭his is a unique opportunity, and elections matter, campaigns matter. And this campaign will matter more than anything.含羞草研究社

In late August, the government said it ended the fiscal year with a deficit of around $5 billion due to wildfire expenses and essential spending on 含羞草研究社減riority services.含羞草研究社

During her report on Tuesday, Conroy said the first quarter of this fiscal year showed lower corporate income tax revenue and the cost of fighting wildfires as two factors having among the largest impacts on the provincial budget.

The report also says retail sales are down 0.5 per cent as 含羞草研究社渁 continuation of last year含羞草研究社檚 weakness含羞草研究社 due to inflation and high-interest rates, while the value of merchandise exports grew only 1.6 per cent as commodity prices remain low.

Earlier this month, Canfor Corp. announced it is shuttering two northern B.C. sawmills, citing a recently imposed U.S. tariff as a key factor on top of ongoing financial losses, a weak lumber market and difficulty accessing economically viable timber in the province.





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