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The Greater Victoria Chamber of Commerce gives the thumbs up to measures in the budget that encourage infrastructure investment, increase access to capital, and reduce cost to business through tax cuts for small business and a freeze on EI premiums for two years.

 

“We appreciated the opportunity to participate in the budget consultation process when Minister Flaherty was in Victoria and are pleased to see a number of measures we brought forward reflected in the budget’” says Bruce Carter, chamber CEO.

 

The budget allocated 7 billion dollars towards infrastructure investment, 4 billion of which will be projects that are implemented through partnerships with provincial and municipal governments. “Our challenge now will be to identify those projects that can be brought forward through a municipal partnership and still represent a long-term economic benefit to the entire region,” says Carter. “We definitely have a few, for example an expansion to the airport runway,  the Ogden Point Cruise Ship terminal so it can accommodate larger vessels, or an expansion to the Vancouver Island Technology Park. Each of these projects will have long-term positive economic impact in our two major private sector industries of high tech and tourism.”

 

The Chamber also pointed out specific measures that could benefit our region such as 2 billion dollars for university maintenance, particularly as it impacts R&D as well as funding for colleges to enhance skills training programs. The government will also procure 98 new coast guard vessels and it is likely that the industry in Metro Victoria will benefit from those purchases.

 

The Greater Victoria Chamber of Commerce has approximately 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.

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