BizNews This Week Archives - Page 3 of 12

Chief Justice answers Chamber on chronic criminals

February 5, 2025/in BizNews This Week, Chamber Awareness, Safe Communities/by Jim Zeeben

Canada’s Chief Justice Richard Wagner and Justices Andromache Karakatsanis and Nicholas Kasirer were in Victoria this week as part of an effort to bring the Supreme Court “closer to Canadians.”

In a world marked by misinformation, the Court needs to do more to help the public understand the work it does and how its decisions can affect our lives, Wagner said.

During the visit, the Chief Justice took time to answer questions from the public, including one posed by the Greater Victoria Chamber of Commerce on behalf of our members: “Can you explain the role of bail and how it can and can’t be used to limit repeat offenders from committing property crimes after being arrested and released before their trials?”

The Chief Justice said this is as much a question for elected officials as it is for the courts. In Canada, someone who has been arrested is considered innocent until a trial proves otherwise. It’s up to government to make changes to the rules that the courts use to determine bail.

“We’ll keep speaking to the provincial and federal government,” Chamber CEO Bruce Williams said. “We need rules that judges can abide by to keep chronic criminals out of the community, and we need timely trials so that justice can be served.”

Feds announce summit to spark Canadian economy

February 5, 2025/in BizNews This Week, Global Uncertainty, Government Federal/by Jim Zeeben

The federal government announced today that it will hold a Canada-US Economic Summit on Feb. 7.

The summit will bring together Canadian leaders in trade, business, public policy and organized labour. Their aim will be to make it easier to build and trade within Canada — the ninth-largest economy in the world — as well as to diversify export markets and increase productivity.

“These are all areas our Chamber network has been calling for and we will keep calling for until this investment in our communities is realized,” Chamber CEO Bruce Williams said.

Tariff threat on hold, but clock ticks for new plan for Canada

February 5, 2025/in BizNews This Week, Chamber Awareness, Global Uncertainty, Inflation And Rising Costs/by Jim Zeeben

Businesses were quick to respond to the imminent threat of US tariffs, with calls to support local and buy Canadian.

Now that the trade war has been “paused,” it’s clear we need to be better prepared in case US President Donald Trump does impose crippling tariffs on Canadian products.

Chamber CEO Bruce Williams has been speaking to local media about efforts to support local businesses and analyze what the chaotic trade talk might mean.

“I think the concerning part, for a lot of people, is the uncertainty as to whether or not it’s going to happen. And, if so, what is it going to look like? And will the Americans come to an understanding that it’s damaging to them as well as to us,” Chamber CEO Bruce Williams told CHEK News in January.

The national Chamber network is calling for a multi-partisan approach to develop an “all-in” strategy. Canadian Chamber President Candace Laing said unity is vital so we can “address critical roadblocks that have left Canada too dependent on trade with the United States.”

Priorities of the All-In Plan:

Make it easier to trade within Canada to build our economy and resilience from within
Build modern trade infrastructure to get Canadian goods overseas
Reduce red tape for businesses held back by piled up paperwork
Lower taxation so businesses can compete globally while diversifying trade relationships.

“Businesses have durable relationships, which will chart a secure, prosperous future, but Canada’s leaders need to get back in gear for it to work. When Canadians and Americans see Parliament closed, they see a rudderless ship,” Laing said. “We need to send a strong message to President Trump and the world that we will rise to this occasion, as a unified Canada. Tariffs tomorrow instead of tariffs today still leave businesses, workers and families in the lurch. $3.6 billion in trade every day hangs in the balance.”

Eby names ‘war-room’ to protect BC against US tariffs

January 29, 2025/in BizNews This Week, Global Uncertainty, Government Provincial/by Jim Zeeben

With US President Donald Trump threatening to impose tariffs as early as Saturday, BC Premier David Eby has assembled a cabinet committee to fight back.

Housing and Municipal Affairs Minister Ravi Kahlon will chair the committee, which will act as a day-to-day war room.

“This threat isn’t going away anytime soon – not while this president is in power,” Eby said, noting that the committee will work to protect BC businesses, families and workers.

Part of the strategy is to strengthen ties to markets other than the US.

“We didn’t ask for this fight, but BC will not be bullied,” Kahlon said.

Members of the new cabinet committee are:

Ravi Kahlon, Minister of Housing and Municipal Affairs
Diana Gibson, Minister of Jobs, Economic Development and Innovation
Brenda Bailey, Minister of Finance
Adrian Dix, Minister of Energy and Climate Solutions
Lana Popham, Minister of Agriculture and Food
Randene Neill, Minister of Water, Land and Resource Stewardship
Rick Glumac, Minister of State for Trade
Ravi Parmar, Minister of Forests
Jagrup Brar, Minister of Mining and Critical Minerals
Tamara Davidson, Minister of Environment and Parks

Bank cuts interest rates again as uncertainty remains

January 29, 2025/in BizNews This Week, Chamber Awareness, Global Uncertainty, Inflation And Rising Costs/by Jim Zeeben

This morning, the Bank of Canada reduced its target for the overnight rate to 3%. The Bank also said it was ending quantitative tightening, starting gradually in early March.

Economic projections are more fuzzy now than they typically are because of the shifting political landscape, particularly the threat of US tariffs.

“With inflation around 2% and the economy in excess supply, Governing Council decided to reduce the policy rate a further 25 basis points to 3%. The cumulative reduction in the policy rate since last June is substantial. Lower interest rates are boosting household spending and, in the outlook published today, the economy is expected to strengthen gradually and inflation to stay close to target,” the Bank stated. “However, if broad-based and significant tariffs were imposed, the resilience of Canada’s economy would be tested. We will be following developments closely and assessing the implications for economic activity, inflation and monetary policy in Canada. The Bank is committed to maintaining price stability for Canadians.”

New: post-budget breakfast with BC Finance Minister

January 29, 2025/in BizNews This Week, Chamber Awareness, Government Provincial/by Jim Zeeben

With businesses facing ongoing uncertainty, it’s good to know that at least one economic tradition will continue this year.

The Greater Victoria Chamber of Commerce will once again host the provincial Finance Minister, at a breakfast event presented by Coastal Community Credit Union & Insurance Services, the morning after BC Budget 2025 is unveiled.

This is an unparalleled opportunity to hear directly about how the provincial government plans to address ongoing social challenges and invest in the economy in the year ahead.

“We are grateful to host the Hon. Brenda Bailey on March 5, and I look forward to discussing questions and concerns that Chamber members have expressed to us,” Chamber CEO Bruce Williams said.

Hon. Brenda Bailey, BC Minister of Finance
Wednesday, March 5, from 8 – 9:30 am
Hotel Grand Pacific – Vancouver Island Ballroom, 463 Belleville St.

Register Now

Inflation falls lower in December: Statistics Canada

January 22, 2025/in BizNews This Week, Inflation And Rising Costs/by Jim Zeeben

There was good news from Statistics Canada this week as the agency reported inflation continued to slow in December. The Consumer Price Index was 1.8% on a year-over-year basis in December, down from 1.9% in November. Restaurant meals and alcohol were directly connected to the deceleration.

A temporary GST break on some items took effect in December, lowering the cost of food, booze, tobacco and cannabis as well costs for recreation, education, reading, clothing and shoes.

Seabed carbon worth study: Ocean Networks Canada

January 22, 2025/in BizNews This Week, Climate Change Solutions/by Jim Zeeben

A proposal to remove CO2 from the atmosphere and bury it safely in the seabed is one of the incredible examples of climate action leadership in Greater Victoria. The Solid Carbon project is being studied by Ocean Networks Canada and other world-renowned institutions.

The work was recently highlighted by the Times Colonist in a story reporting on a new study about carbon naturally stored in seabed sediments. The study concluded that it is vital to protect areas of the ocean floor that contain vast carbon deposits.

“We are an imperfect species. We do things to keep populations safe. In some ways, dredging is important to prevent ships from going aground and spilling oil,” ONC CEO Kate Moran told the Times Colonist. “But taking a precautionary approach, it would be useful to take a look at these activities and assess them for the risks and benefits — especially now that they’re identifying that we could be releasing carbon by some of these seafloor disturbances.”

Chamber network working behind scenes to help Canada

January 22, 2025/in BizNews This Week, Global Uncertainty, Immigration And Integration/by Jim Zeeben

It’s said that no one wins a tariff war, and with so much uncertainty about what newly anointed US President Donald Trump might do to pressure Canadians economically, the Chamber’s national network is proactively working to build allies where it counts.

This week, the Canadian Chamber was in Washington, DC, during the US inauguration. The Chamber spoke with US decisionmakers to ensure they understand the risks posed by tariffs.

Through direct engagement with key partners, the Canadian chamber made the case that imposing tariffs doesn’t strengthen economies but weakens them by driving up costs, disrupting cross-border trade, and putting millions of jobs at risk on both sides of the border.

Tariffs would act as a tax on US families and businesses, and hurt the US economy.

“Instead, we called for collaborative solutions to grow our $1.3 trillion annual trade relationship and protect the millions of jobs it supports,” the Chamber said. “Beyond this week, our advocacy continues at full speed. We’re championing policies to remove barriers, diversify trading partners, and prepare Canada for potential economic impacts.”

Chamber Trade Tracker

Save Our Streets hosting expert panel at 8 am, Jan. 23

January 22, 2025/in BizNews This Week, Safe Communities/by Jim Zeeben

A provincial initiative backed by the Chamber is hosting a panel discussion in Vancouver tomorrow at 8am about what is currently being done to make communities safer. The Save Our Streets initiative was formed by a coalition of businesses and representative associations to address growing distress over homeless encampments, addiction and mental health challenges that are making people feel unsafe in many communities.

“With crime, violence and street disorder plaguing communities large and small across British Columbia, it’s time for British Columbians to consider an evidence-based approach to how we’re addressing these issues,” says a statement from SOS. “The Forum will feature several professionally moderated, non-partisan and future-focused panel discussions on topics such as Judicial Reform and Resources, Policing Reform and Resources, Addictions and Mental Illnesses continuum of care, and The Role of Housing.”

The forum is being livestreamed and you can register to watch the panel virtually.