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Economic growth surpasses forecasts for province

8/31/2022

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BC is back in the black as the province is reporting a $1.3 billion surplus for the 2021-22 fiscal year. The economy outperformed most forecasts that were expecting deficits for years to come as businesses recover from the pandemic.
 
“While others might have chosen cuts and austerity, our investments in people have helped our economy rebound faster than anyone in the public or private sector predicted," BC Finance Minister Selina Robinson said. "Looking ahead, the Province will keep using this economic strength to support British Columbians, including bringing in new measures in September to help those who are struggling the most with global inflation.”
 
The Canadian economy was also up, with national GDP rising by 3.3% in the second quarter. The jump is the largest since 1974. The increase was driven by strong consumer spending and investments by businesses, Statistics Canada said.
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Business Awards >
        • 2023 Business Awards
      • Picnic in the Park
      • Business Hall of Fame
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Small Business Month
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • BizNews Articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • The Chamber 1863
    • 1863-Indigenous
    • 1863-Early Chamber
    • 1863-History Events
    • 1863-Booms and Busts
    • 1863-Members & Communities
    • 1863-Women, people and organizations
    • 1863-Committees
    • 1863-Chairs and Chair Businesses
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
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    • Family Business >
      • Family Business | About
      • Family Business | Advisory Teams
      • Family Business | Events
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us