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.

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.

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.

The provincial government has reduced licensing costs for taxi and limo operators to help the sector through the economic downturn caused by the pandemic.
 
On June 22, the annual licence renewal fee was reduced for commercial operators who hold a Passenger Directed Vehicle Authorization, which includes taxi and limousine operators. In the past, these licensees paid an annual fee of $100 per vehicle with no overall fee cap. It has been reduced to $50 per vehicle with a licence fee cap of $5,000.