BC Treasury Secretary Carole James presents her 2020 budget at the Victoria Conference Center on February 18, 2020. (Tom Fletcher / Black Press)
BC Budget does not “excite” the Kelowna business community
According to the Chamber, there is no clearly defined competitive strategy in the 2020 budget
While the recently unveiled provincial budget for 2020 could get a positive note for being balanced and protecting BC’s AAA credit rating, it has failed the business community.
This is according to the Kelowna Chamber of Commerce, which claimed that the budget spending increases will come at the expense of businesses facing ever-increasing taxes.
“We were hoping for some relief in the taxes that are holding small businesses back, such as adjusting the threshold with the employer’s health tax or a prudent approach for large companies that will help them be competitive globally,” said Chamber President Nikki Csek.
“Our largest producers and raw material exporters pay one of the highest CO2 taxes in the world – this is not an environment that encourages investment.”
Describing the budget as a missed opportunity, the board said it failed to outline a broad vision of how the government plans to ensure BC remains a competitive jurisdiction that welcomes entrepreneurs.
“It will take a few days to go through all of the information. And we believe that in a good economy the government walks a fine line as it fails to prepare for a rainy day as the debt-to-GDP ratio continues to rise. ”
READ MORE: “The NDP of the 1990s is Back”: Kelowna-Lake Country MLA raises concerns about 2020 budget
READ MORE: Budget 2020: BC Liberals Blow “Netflix Tax”, Missing Economic Plan
@michaelrdrguez
michael.rodriguez@kelownacapnews.com
Like us on Facebook and follow us on Twitter.
shop
