BizNews This Week Archives - Page 7 of 19

Consumers get break as BC eliminating carbon tax April 1

March 26, 2025/in BizNews This Week, Business And Economic Strength, Chamber Awareness, Climate Change Solutions, Global Uncertainty, Government Federal, Government Provincial, Inflation And Rising Costs/by Jim Zeeben

Energy costs are set to go down starting April 1 as the province announced yesterday it will make good on its promise to eliminate the consumer carbon tax after the federal government promised to do the same.

BC’s tax adds about 17 cents per litre at the gas pump, and 15 cents per cubic metre of natural gas.

“The Province will continue to act on the commitment to battle climate change by ensuring people in British Columbia have affordable options to make sustainable choices and by encouraging industry to innovate,” the BC Ministry of Finance said in a statement.

Eliminating the tax will help businesses and individuals facing increasing costs and economic uncertainty due to the threats of tariffs and tradewar with the US.

The latest news on the tradewar is a 25% tariff on the auto industry imposed today. The action is expected to increase the cost of vehicles and cause generational chaos to automakers on both sides of the border.

The national Chamber network continues to work on mitigating the threat of tariffs. This week, the Canadian Chamber released a report on US cities that are the most export-dependent on Canada.

Finalists announced for this year’s Business Awards!

March 19, 2025/in BizNews This Week, Chamber Awareness/by Jim Zeeben

The Greater Victoria Chamber of Commerce is proud to announce the finalists for the 2025 Greater Victoria Business Awards. Tickets will be available at end of March.

The finalists have distinguished themselves in many categories and many ways, including excellent customer service, sustainable business practices, young entrepreneurship and business leadership.

The Chamber’s 2025 Business Awards showcase hard-working businesses, business people and community leaders in 14 categories. Finalists were chosen by an independent panel of prominent business leaders who served as judges.

“The finalists announced today all are shining examples of leadership and innovation,” Chamber CEO Bruce Williams said. “I hope you can join us for a truly inspirational night as we hear unique stories about business that have found a way to thrive in these uncertain times.”

The Chamber previously announced Josue Dubon as The Chamber’s 2025 Member of the Year.

See the 2025 Finalists

Chamber prepping for pro-business campaign

March 19, 2025/in BizNews This Week, Business And Economic Strength, Chamber Awareness, Government Federal/by Jim Zeeben

With a federal election expected to be called as soon as this Sunday, the Canadian Chamber is working on a toolkit that will make sure all political parties understand what businesses need.

The main message is that businesses are under threat. We need the next government to commit to going all-in on Canada. That means delivering on the promise of free trade between provinces, improving existing trade infrastructure and cutting red tape and taxes.

Canada could gain as much as 4% of our GDP by opening up east to west trade. We also require more investment in roads, rail, airports, pipelines and ports in order to grow our economy and fulfill our potential. And, perhaps most timely, there must be immediate relief from regulatory burdens and suffocating tax structures that constrict our private sector. We need to compete internationally and increase the size of our economy in order to sustainably fund the social programs that help improve everyone’s quality of life.

Whoa Premier! Proposed power grab needs a rethink

March 19, 2025/in BizNews This Week, Chamber Awareness, Fair Rules, Global Uncertainty, Government Provincial/by Jim Zeeben

The Chamber takes pride in working well with any government, regardless of their political stripes. However, there are times when decisions are announced that leave us shaking our heads. The latest, or at least most egregious, was the surprise introduction of Bill 7 last Friday.

BC Premier David Eby claimed the legislation is needed in order for the province to respond to the tradewar with the US. The proposed law has been derided as the Henry VIII clause because it would give the Premier’s Office a vast overreach in its powers.

“Businesses are anxious enough without our own province introducing something that many see as autocratic,” Chamber CEO Bruce Williams said. “We’ve reached out to partner organizations around the Province to figure out a response. Hopefully, cooler heads will prevail and the province will step back from this legislation.”

Bill 7, if passed, would give Eby broad powers without the need to be accountable to the elected legislature.

Help wanted? Workers caught in TFW rule changes

March 19, 2025/in BizNews This Week, Finding And Keeping Workers, Government Federal, Immigration And Integration, Training And Microcredentials/by Jim Zeeben

The Chamber continues to work to address ill-advised changes to Canada’s Temporary Foreign Workers program. We’ve met with Victoria’s Member of Parliament and heard from several Chamber members about the damaging impact this blanket legislation is causing in our region.

Canadian Tire Hillside has reached out to ask for help finding work for four of their former staffers who are looking for employers able to offer a position with a Labour Market Impact Assessment.

“The workers are well qualified, highly experienced professionals with international and Canadian experience. We would be retaining these top-performing team members, however, recent changes to our country’s Temporary Foreign Worker program will unfortunately not permit it,” Canadian Tire said in an email to The Chamber.

The workers live in our region and have housing. They want to continue to be long-term contributing members of the community. The workers have experience in retail, customer service and warehouse work and can start in early summer — once they receive necessary approvals.

To learn more about hiring these potential team members and applying for LMIAs, contact Ron Heal at ron@cantire365.com.

Inflation adds uncertainty to future interest rate cuts

March 19, 2025/in BizNews This Week, Business And Economic Strength, Global Uncertainty/by Jim Zeeben

A surprising uptick in inflation has increased the focus on April 2, when the world is expected to learn how the US administration will roll out tariffs aimed at changing the global economy.

Canada’s Consumer Price Index rose 2.6% year over year in February, following an increase of 1.9% in January. The Bank of Canada considers 2% its target for sustainable growth.

Some of the increase can be contributed to the end of the federal government’s GST holiday on Feb. 15. However, even categories not affected by the tax break rose more than expected.

The Bank of Canada’s next interest rate announcement is April 10. Currently, economists are calling for further cuts to the rate to spur the economy if tariffs are introduced on April 2. However, if Canada is spared from the threatened tariffs, the Bank is expected to hold to allow inflation to settle.

March 11 marked COVID national day of Observance

March 12, 2025/in BizNews This Week, Chamber Awareness, Global Uncertainty, Safe Communities/by Jim Zeeben

It seems like another lifetime. On March 11, 2020, the World Health Organization officially declared a global pandemic.

Our way of life, and, for many, way of doing business, was turned upside down. COVID-19 was an unknown and dangerous disease that would claim 6,600 people in BC and almost 60,000 across Canada despite unprecedented efforts to prevent the spread of infection. The experience changed the way we think about washing our hands, disinfecting our homes and workplaces and even how we greet others.

“I started with The Chamber in June of 2020 — as workers were being told to stay at home and many businesses faced huge losses because they had to shut down,” Chamber CEO Bruce Williams said. “We saw some organizations go into a sort of hibernation, but the need for The Chamber was never more clear. We were asked to be an even louder voice of business and we helped shape many of the programs and policies that got our community through those dark times.”

The Chamber worked closely with federal, provincial and municipal governments to urge them to move quickly on everything from new rules for outdoor patios to low-interest loans to enabling online sales. We also introduced the Chamber Champions program, a new tier of membership for organizations that have the capacity to lift up smaller businesses during times of crisis.

Last year, the federal government declared March 11 as Pandemic Observance Day to “commemorate the efforts to get through the pandemic, to remember its effects and to reflect on ways to prepare for any future pandemics.”

Province recruiting doctors and nurses amid US chaos

March 12, 2025/in BizNews This Week, Government Provincial, Safe Communities, Training And Microcredentials/by Jim Zeeben

The provincial government is seeing opportunity in the political divide currently impacting the United States. BC has begun a recruitment campaign targeting doctors and nurses from the US and fast-tracking credential recognition.

The College of Physicians and Surgeons of BC is being consulted on a direct process for doctors who hold certification from the American Board of Medical Specialties to become fully licensed in BC without the need for further assessment, examination or training. Similar changes were recently adopted by Ontario, Nova Scotia and New Brunswick.

The changes are expected to be implemented in the next few months, following consultations already underway.

The BC College of Nurses and Midwives has also been asked to allow US-registered nurses to apply directly to the college, allowing it to review candidates education, registration, exam completion and regulatory history through the US’s national nurse-licensure and disciplinary database.

The provincial government said 2024 set a record as nearly 250,000 people were able to find a primary care provider, an increase from 186,000 people in 2023 and 131,000 people in 2022.

Bank drops interest rate, citing trade war uncertainty

March 12, 2025/in BizNews This Week, Global Uncertainty, Inflation And Rising Costs/by Jim Zeeben

The Bank of Canada made another cut to interest rates today, lowering the overnight rate to 2.75%.

“The Canadian economy entered 2025 in a solid position, with inflation close to the 2% target and robust GDP growth,” the Bank said in a media release. “However, heightened trade tensions and tariffs imposed by the United States will likely slow the pace of economic activity and increase inflationary pressures in Canada.”

The Bank has conducted research into how Canadian businesses and households are reacting to the tradewar. Not surprisingly, people say they plan to be more cautious with spending and are worried about job security. Businesses are revising sales outlooks, while also trying to tie into the wave of “buy Canadian” sentiment sweeping the country.

“Monetary policy cannot offset the impacts of a trade war. What it can and must do is ensure that higher prices do not lead to ongoing inflation,” the Bank said.

BC pulls all US alcohol from province’s liquor stores

March 12, 2025/in BizNews This Week, Global Uncertainty/by Jim Zeeben

Serious, surreal and silly. Any of these work for describing the current relationship between Canada and the United States as President Trump continues to attack Canadians’ national identity while threatening to gravely damage businesses, families and industry on this side of the border.

The trade war started with tariffs, which serve as a tax paid by Americans on certain Canadian goods. The dispute expanded to citizen boycotts of US groceries and now a provincial ban on US alcohol.

American beer, wine, spirits and other beverages have been removed from BC Liquor stores and the BC Liquor Distribution Branch has stopped bringing any more into the province.

“We are taking this action in response to escalating threats from south of the border,” BC Premier David Eby said. “Most recently, U.S. President Donald Trump made new threats against Canada’s dairy and lumber industries – and there are reports he has been musing about redrawing the border.”

The symbolic move has the support of the BC Restaurant & Foodservices Association.

BCRFA President and CEO Ian Tostenson sent a letter to members explaining what the decision meant for businesses.

“You will still be allowed to sell US-made products in your establishments for as long as you have a supply,” Tostenson said. “BCRFA is proudly on Team Canada and there is no better time to stand with our local brewers, vintners, and distillers than right now.”

Learn more about how the tradewar could impact your business. Register now for The Chamber’s AGM on April 15 to hear an expert panel discuss current US relations.