Payroll tax change welcomed, though questions remain about province’s fiscal path: Budget 20242/22/2024 VICTORIA, B.C. – Businesses with payrolls of up to $1 million will now qualify for an exemption from the Employer Health Tax, B.C. Finance Minister Katrine Conroy announced Thursday during the unveiling of the 2024 provincial budget.
“Increasing the EHT exemption is welcome news for business. The experience in other provinces has shown we can expect an increase in productivity as employers have more room to increase wages and promote staff,” said Bruce Williams, CEO of the Greater Victoria Chamber of Commerce, noting his organization has been calling for the change since the new tax was introduced in Budget 2018. “A healthy economy needs new jobs to come from the private sector and not be so reliant on adding more government workers. Reducing the burden on business is a smart investment and we’d like to see the EHT exemption increased to $2 million to include even more businesses.” Overall, B.C. Budget 2024 was relatively constrained considering it was the last chance for the government to introduce new spending in an election year. However, the increased size of the budget — coming in at a record $7.9 billion — and the scale of deficits projected in the years ahead is a concern. Businesses understand the risk of accumulating debt and the potential problems that creates for our economy. Minister Conroy, who will address Chamber members tomorrow during a business luncheon at the Hotel Grand Pacific, said the deficit is needed to maintain services during “extraordinary times.” British Columbia’s debt is among the most affordable in Canada, Conroy said, with investment interest remaining high. Among the highlights in the budget are a new tax to deter home buyers from quickly reselling their properties, and a promise to cover the cost of one cycle of invitro-fertilization for any individual who wants to have a baby. The budget also includes an increase to the B.C. Family Benefit program and a one-off rebate to help with electricity bills. “We had hoped to see more investment in business, specifically help for the restaurant sector, but instead we’re concerned the increase to the carbon tax will make it ever more expensive for those businesses that rely on natural gas for their operations,” Williams said. “We also have questions about the impact that the cap on international students will have on revenue that post-secondary schools rely on, as well as about the province's plan to ensure our court system has the resources needed to more effectively deal with repeat offenders.” To arrange an interview with The Chamber, or to register as media for tomorrow’s event with Minister Conroy, email communications@victoriachamber.ca. Conversation with Hon. Katrine Conroy, Minister of Finance
About Greater Victoria Chamber of Commerce Since 1863, The Chamber has served Greater Victoria by working together to build good business and great community for all through advocacy, networking, professional development, and innovative services as changing times require. In 2020, the Chamber Champions initiative added a powerful resource to provide leadership and guidance to our organization. Current Champions are: Acera Insurance, BC Ferries, Berwick Retirement Communities, Big Wheel Burger, Camosun College, CHEK Media Group, CIBC, ColdStar Solutions, H2 Accelerator, Knappett Projects, Mike Geric Construction, MNP, PARC Retirement Living, RBC, Scotiabank, Seaspan Victoria Shipyards, Starlight Developments, Times Colonist, TD Commercial Banking, TELUS Business, Times Colonist and the University of Victoria. Find out more at Victoriachamber.ca. Media Contact: Jim Zeeben, Policy and Strategic Communication Greater Victoria Chamber of Commerce 250 360-3471 | communications@victoriachamber.ca
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VICTORIA, BC – The Greater Victoria Chamber of Commerce is proud to announce the finalists for the 2024 Greater Victoria Business Awards.
The finalists, listed below, have distinguished themselves across 14 Business Award categories, including outstanding customer service, sustainable business practices, emerging businessperson and innovation. The Chamber’s 2024 Greater Victoria Business Awards are an opportunity to appreciate the talent and effort of some of the brightest stars in our business community. An independent panel of prominent business leaders chose the finalists from a wide range of entries. “Every year, we have so many deserving businesses. It’s never easy for the judges to narrow down the list to two finalists who represent businesses that have had exceptional years,” Chamber CEO Bruce Williams said. “By celebrating our finalists’ success, we celebrate all of the exceptional entrepreneurs in Greater Victoria and the hard work and innovation they strive to achieve.” The Chamber previously announced Erinn Pinkerton as the recipient of The Chamber’s 2024 Award of Distinction, while James Gatsi is The Chamber’s Member of the Year. The Award of Distinction recognizes the positive influence the honouree has had on the economy, businesses and the overall community, signifying achievement, resourcefulness and determination. The Chamber Member of the Year award recognizes an engaged, passionate, and committed individual who has taken an active role with the Chamber Board or a committee, fosters relationships with the community and advocates on behalf of business. The Chamber's 2024 Business Awards Ceremony will be held May 7 at the Victoria Conference Centre. Tickets go on sale March 4 at victoriachamber.ca. 2024 Finalists Business of the Year (1-10 Employees) – sponsored by City of Victoria Nature Bee The Athlete Centre Business of the Year (11-39 Employees) – sponsored by Grant Thornton Oswego Hotel Sheringham Distillery Business of the Year (40+ Employees) – sponsored by Harbour Air Dodd's Furniture & Mattress Kinetic Construction Ltd. New Business of the Year – Sponsored by BCLC BestCoast Outfitters Ideas for Impact Sustainability Agency Inc. Non-Profit of the Year – Sponsored by Children’s Health Foundation of Vancouver Island Take a Hike Youth Mental Health Foundation Threshold Housing Society Business Person of the Year – Sponsored by Canadian Tire Lori & Peter Stofko | Ruffell & Brown Window Covering Centre Neetu Kaloti | National Courier Service Community Builder of the Year – Sponsored by Coast Capital Savings Intrepid Theatre Pacifica Housing Advisory Association Emerging Business Person of the Year – Sponsored by Royal Roads University Katie Gamble | Nature Bee Inderbir Singh | Western Canada Security Corp. Innovation Award – Sponsored by Gustavson School of Business, University of Victoria HAVN Saunas Open Ocean Robotics Outstanding Customer Service Award – Sponsored by Innov8 Digital Solutions Oak Bay Beach Hotel Robinson's Outdoor Store Outstanding Workplace of the Year – Sponsored by Worldline Peninsula Co-op WildPlay Element Parks Sustainable Business Practices – Sponsored by Camosun College Elate Cosmetics Huntingdon Manor Hotel & Pendray Inn and Tea House Chamber Member of the Year - Sponsored by Air Canada James Gatsi, CEO, CL Web Developers Chamber Award of Distinction - Sponsored by Times Colonist Erinn Pinkerton, President & CEO, BC Transit About Greater Victoria Chamber of Commerce Since 1863, The Chamber has served Greater Victoria by working together to build good business and great community for all through advocacy, networking, professional development, and innovative services as changing times require. Find out more at victoriachamber.ca. Media Contact: Jim Zeeben, Policy and Strategic Communications Greater Victoria Chamber of Commerce 250 360-3471 | communications@victoriachamber.ca |
AuthorSince 1863, The Chamber has served Greater Victoria by working together to build good business and great community through advocacy, networking, professional development and innovative services as changing times require. Archives
March 2024
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