BC Chamber of Commerce Statement on Budget 2024

Fiona Famulak, President and CEO of the BC Chamber of Commerce, released the following statement in response to the release of Budget 2024 by the Government of British Columbia.

“We are grateful for the province’s decision to increase the Employer Health Tax threshold from $500,000 to $1,000,000.  This will enable small businesses to lower their costs and direct those additional dollars to hiring staff or investing in innovation that drives productivity and business growth.

“The continued investments in critical infrastructure, including housing, health care and education are also welcome.  While those areas have traditionally been viewed as “social” matters, we know they have a direct impact on businesses’ ability to hire and retain workers.

“Budget 2024 also provides a modest one-time BC Electricity Affordability Credit that will reduce electricity costs for commercial and industrial users that will be helpful for businesses of all sizes.

“However, the increase in spending and rising debt levels over the fiscal plan, raise concerns about the province’s ability to afford the investments that are planned. The continued reliance on deficit spending means we are transferring responsibility for paying for today’s government services onto our future selves and future generations. 

“We need a thriving business community creating and sustaining good paying jobs and an economic environment that attracts investment. The BC Chamber of Commerce will therefore continue to advocate for policies that enable businesses to prosper, British Columbians to thrive and communities to flourish.”