The Chamber supports an initiative to lift inter-provincial trade barriers, currently being raised by our colleagues at nine of Canada's largest chambers of commerce.
 
In a series of videos promoted on Twitter, the Canadian Global Cities Council showcases how Canada's economic recovery would be helped by a freer flow of goods between provinces.
 
A Few Facts

• More than $80 billion in economic potential is lost every year because of trade barriers between provinces.
• Those barriers add nearly 7% to the costs of goods.
• Free trade between provinces is supported by 90% of Canadians
• GDP in Canada could increase by 4% – more than from any of our recent international trade agreements.

The University of Victoria broke ground today on 800 new on-campus homes for students. The $232.4 million housing project includes $128 million in provincial funding. The new units are expected to be ready for students in time for fall 2022.
 
With workforce homes in short supply in our region, the addition of on-campus housing will help free up much-needed rental units in the community.

A new five-storey, wood-frame building on Fifth Street will provide 64 affordable homes In Greater Victoria. The project is being built with up to $17.2 in interim construction financing from BC Housing's HousingHub program. Rent will range from $1,000 per month for a studio to $2,500 for the most expensive three-bedroom option. To qualify, renters must have household incomes between $48,000 and $100,000.
 
“I’m pleased that this project will provide good, affordable homes for working families that are close to their friends, work, vibrant business districts and community amenities,” Victoria-Swan Lake MLA Rob Fleming said in a news release.
 
Construction is expected to wrap up by spring. The building will include space for the Vancouver Island School of Art on the ground floor.

If you've been thinking about buying an e-bike for commuting or getting around, the provincial government hopes to make your decision a little easier with an updated rebate program.
 
"E-bikes are a much cheaper alternative to cars and are a safe way to travel," Transportation and Infrastructure Minister Claire Trevena said today in a news release. "We look forward to seeing more people using e-bikes for getting around.”
 
People can now trade in an old vehicle and get $1,050 toward the purchase of a new e-bike. The rebates, which have increased by $200 this year, are delivered by the Scrap-It program. As well, a one-year pilot program is offering a $1,700 rebate for business owners who purchase a cargo e-bike.

Check out: Greater Victoria e-bike retailers

Victoria is well positioned to become a centre for ocean innovation. A request for proposals has gone out to study the feasibility of increasing the value of the marine sector to Greater Victoria's economy.
 
The City of Victoria is working with the South Island Prosperity Partnership and the marine sector to explore the idea of an Ocean Futures Innovation Hub. It would be located in Victoria and foster an environment of entrepreneurship building off our region's existing marine industries and our location on the Pacific. Being home to Ocean Networks Canada, which yesterday announced a $29 million investment from the federal government, is a boon.
 
The Chamber supports innovation led by business. We look forward to helping build an Ocean Futures Innovation Hub in Victoria.

Farm sales reached record levels in 2019, and the provincial government says the growing sector could point the way to economic recovery.
 
BC reported $3.9 billion in farm cash receipts last year, with areas of growth including cannabis, dairy, beef and field vegetables.
 
“COVID-19 has opened our eyes to the importance of our province’s self-sufficiency," said Saanich South MLA and Minister of Agriculture Lana Popham. "I urge everyone to continue to show their appreciation for our farmers and support our local food system by making a special effort to Buy BC.”
 
The BC Farm, Fish and Food Job Connector was launched in May to help farmers find workers needed for this season's harvest. Last year's record represents on increase of $462 million in revenue from 2018.
 
To help Island farmers adapt to the changing climate, the provincial and federal governments have identified 11 strategies to increase resilience. With warmer and dryer conditions, new types of insects and more extreme weather events, farmers need to prepare for challenges and opportunities ahead, the report says.

Businesses across Canada are facing a difficult decision as they can’t afford to stay closed but are struggling with reduced revenue that doesn’t cover expenses. The paradox is reflected in the results of a survey released yesterday by Statistics Canada and the Canadian Chamber of Commerce.
 
Getting through this difficult phase will be critical for the economy and requires businesses to overcome three key challenges.

1. Employers need to have their workers on the job. So far, only 22% of businesses have accessed the Canadian Emergency Wage Subsidy. It’s clear that government needs to make this program more accessible.
2. Commercial rent relief needs to be improved. Only 25% of businesses reported they have been able to get relief from rent or mortgage payments.
3. Safety requirements remain a priority and require businesses to be able to source personal protective equipment — especially sectors that require physical proximity, such as retail, events, hotels and food services.

 
To help our members learn more about how they can benefit from the wage subsidy program, as well as its tax implications, Chamber CEO Bruce Williams is hosting Matthew Hohnsbehn, Liaison Officer at the Canada Revenue Agency, and Kris Wirk, Partner, at Dusanj & Wirk Chartered Professional Accountants, on Aug. 11.

Proposed changes to BC's labour law will give WorkSafeBC more power and increase compensation for workers.

The changes could also increase the cost of premiums for employers by about 1.4 cents for every $100 of payroll, Labour Minister Harry Bains said.
 
The proposal includes raising maximum insurable earnings to $100,000, allowing preventative medical treatments before a claim is accepted and making it easier for workers to access benefits if they catch COVID-19. WorkSafeBC would also be able to get warrants allowing them to search workplaces during investigations.
 
During the pandemic, WorkSafeBC has allowed businesses to defer paying premiums for six months without penalty or interest. As well, as an extra help for hard-hit businesses, WorkSafeBC waived premiums on wages paid to workers of employers receiving the Canadian Emergency Wage Subsidy for the duration of the program.

Greater Victoria's unemployment rate hit 11% in June — up from 10.1% in May, according to the latest report from Statistics Canada.
 
The numbers are in contrast to the rest of BC and Canada. Provincially, the rate was 13% in June compared to 13.4% in May. Nationally, the unemployment rate was 12.3% in June, down from 13.7% in May.
 
The economic crisis caused by the COVID-19 pandemic has hurt the tourism and hospitality sector especially hard, which could account for Greater Victoria's numbers. Our region typically has one of the lowest unemployment rates in Canada.
 
It's difficult to forecast where the rates will go from here as more businesses re-open and expand their operations. The hope is that an increase in local customers as well as a focus on travelling within the province will help.
 
“We’ve proven that flattening the curve is good for the economy,” Chamber CEO Bruce Williams told CHEK News. “We’re not back to the unemployment numbers that we had before ... but it does mean that we are embracing the ability to move forward to restart the economy.”

The Chamber welcomed the news on July 13 that the federal government is extending its wage subsidy program until the end of the year. Businesses need certainty and they don't have that when programs run month to month and extensions are granted at the last minute.
 
Confirming that the Canada Emergency Wage Subsidy will be available until Dec. 31 allows employers to better plan their recovery. However, government needs to do more to make sure the program is transparent and easy to access.
 
The wage subsidy, which was set to end by the beginning of September, has not engaged businesses as much as expected. The government estimated the cost of the program would be $45 billion but, as of July 8, only $18 billion had been paid to about 250 thousand businesses. The Canada Revenue Agency estimates that, between May 10 and June 6, the program subsidized wages for 2.3 million Canadians.
 
The week before, federal Finance Minister Bill Morneau increased the budget for the program to $82.3 billion in a move that foreshadowed today's announcement.
 
"The Chamber would like to see the government help workers move off of the Canada Emergency Relief Benefit and onto the payroll of employers," says Chamber CEO Bruce Williams. "The wage subsidy is the right vehicle to do that but we're hearing that many businesses find the process too confusing and they aren't sure if they qualify. "
 
To help our members learn more about how they can benefit from the wage subsidy program, as well as its tax implications, Chamber CEO Bruce Williams is hosting Matthew Hohnsbehn, Liaison Officer at the Canada Revenue Agency, and Kris Wirk, Partner, at Dusanj & Wirk Chartered Professional Accountants, on Aug. 11.
 
Register Now
Business Restart Series: Canada Emergency Wage Subsidy (Online)
Tuesday, Aug. 11, Noon to 1 pm