Business leaders urge B.C. parties to focus on economy in campaigns

Go back a decade and one of business leaders’ biggest asks of politicians was that governments balance their budgets.

B.C. Finance Minister Katrine Conroy earlier this year tabled the province’s second consecutive record deficit of $7.8 billion for the 2024-25 fiscal year. She then updated her assessment and said that shortfall was likely to reach $8.9 billion. “Both federally and provincially, we’re headed into deep waters, and whoever comes in—whether it’s still David Eby or whether it’s still Trudeau , whomever is there is going to have to start doing the hard stuff, and that’s never popular, and nobody wants to do it, so it’s often left to a future government.”

Efficiency in the economy is the key to wealth British Columbia Business Council CEO Laura Jones’ message for politicians is that the economy needs to be government’s top priority. “The best way to get out of is to stimulate economic growth and to have higher growth levels,” she said. “The painful way to get out is to have to start cutting, but we do know that today’s deficits are tomorrow’s taxes.”

Rustad has also said he wants to repeal B.C.’s carbon tax. Eby said he also supports getting rid of the tax if the federal government removes its requirement that all provinces have one. A problem with that approach is the immediate impact of lower taxes could be to push the budget deficit even higher, Jones said.

The province has a wealth of minerals and other resources and there are about 17 proposed projects that plan to potentially unearth those commodities, but getting a new mine approved can take 12 to 15 years, he said.Proponents, he said, find themselves punted back and forth between government departments, such as the Ministry of Energy, Mines and Low Carbon Innovation, the Ministry of Environment and Climate Change and the Ministry of Water, Land and Resource Stewardship.

“When we do decide to make the decision, what’s happening is the costs are coming in wildly over budget, and the projects are years delayed,” he said.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Ottawa, Quebec tout ‘new business model’ to fast-track affordable housingDeveloper Société de développement Angus will receive $193.5 million in subsidies to ‘quickly’ build 677 units in Montreal and 324 in Rimouski
مصدر: globeandmail - 🏆 5. / 92 اقرأ أكثر »

OpenAI hits more than 1 million paid business usersThe figure is a rise from the 600,000 users it had in April
مصدر: globeandmail - 🏆 5. / 92 اقرأ أكثر »

German Business Outlook at Lowest Since February on Weak Economy(Bloomberg) -- Germany’s business outlook held at its lowest level since February — highlighting the gloom once again engulfing Europe’s biggest economy...
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »

The Best Restaurants for a Business Lunch in TorontoThe best restaurants for a business lunch in Toronto offer smooth service and enough tempting options to fuel hours of negotiations. Perfect backdr...
مصدر: blogTO - 🏆 44. / 63 اقرأ أكثر »

Conservatives start process to find Boissonnault’s business partner in contempt of ParliamentAfter a report found cabinet minister Randy Boissonnault’s business partner failed to comply with committee orders, Tories argued Stephen Anderson is in contempt of Parliament.
مصدر: GlobalCalgary - 🏆 50. / 61 اقرأ أكثر »

Walmart bets on its international business to drive growth as it expands in China, MexicoWalmart International CEO Kathryn McLay is slowly growing America's biggest retailer on a global scale.
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »