BC Chamber of Commerce Statement on Federal Budget 2023

In response to the federal budget released yesterday, Fiona Famulak, President and CEO of the BC Chamber of Commerce, released the following statement:

“As is often the case, government budgets try to carefully balance managing economic realities alongside spending initiatives and policy priorities. This year’s budget is no different.

The BC Chamber of Commerce welcomes the federal government’s sizable investment in green energy and continued support for the development of critical minerals through the introduction of the tax credit. In addition, further commitments to streamline regulatory processes are vitally important for the resource sectors in our province. These choices align with the BC Chamber of Commerce’s call for measures that encourage job- and wealth-creating investments in major projects in Canada.

We would like to have seen the federal budget attach a higher priority to enacting changes that encourage economic growth, for example, measures to reduce the ever-increasing costs shouldered by small- and medium-sized companies that are the backbone of our economy.

We are concerned, as are our members, about the larger than forecasted deficits and the prospect of tax increases at a time when economic turbulence and a mild recession are expected.

As our country continues to face affordability and competitive challenges compared with other countries, governments of all levels need to adopt policies and make spending decisions that ensure our businesses can thrive, continue to employ workers and support families in all our communities.”