Close X
Thursday, November 28, 2024
ADVT 
National

B.C. businesses seek concrete economic 'vision' from parties ahead of fall election

Darpan News Desk The Canadian Press, 10 Sep, 2024 03:26 PM
  • B.C. businesses seek concrete economic 'vision' from parties ahead of fall election

Leaders from a wide array of businesses in British Columbia are urging the province's political parties to "deliver a clear and actionable plan" for revitalizing an economy that they say has pushed many residents into a "personal recession."

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 "prospect of building a good life" in the province due to economic concerns, even if B.C. isn't 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.'s Finance Minister Katrine Conroy unveiled the government's 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 "dire" picture for B.C.'s finances that requires billions in "that need to be cut or increased in taxes" for stability.

She says businesses are asking those who could form the next government "to show us a vision" on how the provincial economy can be rejuvenated.

"I think there's a lot of voters who are undecided right now, within the business community and public at large," Anderson says. "And I think this is an opportunity for all of the parties to look at their platforms and to appeal to the voters.

"This is a unique opportunity, and elections matter, campaigns matter. And this campaign will matter more than anything."

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 "priority services."

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 "a continuation of last year's weakness" 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.

MORE National ARTICLES

Large scale theft at Lululemon

Large scale theft at Lululemon
Two men have been arrested in connection with what police describe as a large-scale theft operation targeting Lululemon stores across the Lower Mainland. Metro Vancouver Transit Police say a 39-year-old man was arrested in April as he was making a getaway at Burnaby's Metrotown SkyTrain station.

Large scale theft at Lululemon

Banff residents vote against downtown pedestrian zone in plebiscite

Banff residents vote against downtown pedestrian zone in plebiscite
Banff residents have given a thumbs down to a pedestrian zone in the community's downtown, rejecting the idea in a plebiscite Monday. The Town of Banff posted unofficial results of the vote on its website, saying 1,328 votes were cast against the town council's decision to have a pedestrian zone on Banff Avenue every summer, from the May long weekend to Thanksgiving long weekend.

Banff residents vote against downtown pedestrian zone in plebiscite

Focus on recovery after fire's 'heartbreaking' destruction: mayor of Slocan

Focus on recovery after fire's 'heartbreaking' destruction: mayor of Slocan
Jessica Lunn, mayor of Slocan in British Columbia's Kootenay region, said she drove along Highway 6 this week to survey the damage done by a nearby complex of fires that forced the evacuations of hundreds and destroyed homes along the road. Lunn, who said attention was now turning to recovery, called the losses "heartbreaking," although she couldn't see the damaged buildings from the newly reopened section of highway.

Focus on recovery after fire's 'heartbreaking' destruction: mayor of Slocan

Wildfire smoke causing air quality and visibility issues in northern Manitoba

Wildfire smoke causing air quality and visibility issues in northern Manitoba
Many parts of northern Manitoba are under an air quality warning due to wildfire smoke, which is also causing reduced visibility. Environment and Climate Change Canada says the amount of smoke can fluctuate over short distances and can vary considerably from hour to hour.

Wildfire smoke causing air quality and visibility issues in northern Manitoba

Calgary daycares shut down by Alberta government over safety concerns pushing back

Calgary daycares shut down by Alberta government over safety concerns pushing back
The operators of three Calgary child-care facilities shut down this week are speaking out against the Alberta government's inspection process, saying they've been discriminated against. The Calgary programs were forced to close Monday, with the government citing "an imminent danger to the health, safety and well-being of children attending the programs."

Calgary daycares shut down by Alberta government over safety concerns pushing back

Why it took nearly a year to link multiple Listeria cases to some plant-based milks

Why it took nearly a year to link multiple Listeria cases to some plant-based milks
The Public Health Agency of Canada says it was only after multiple Listeria cases emerged in Ontario in June that it recognized a broader outbreak that had started back in August 2023. Questions have swirled around why it took nearly a year for the Canadian Food Inspection Agency to announce a national recall of several Silk and Great Value plant-based milk products on July 8.

Why it took nearly a year to link multiple Listeria cases to some plant-based milks