On Saturday, the province’s minimum wage increases from $16.75 to $17.40 an hour.

BC continues to have the highest minimum wage among Canadian provinces.

“First, we acknowledge that times are challenging — especially for people trying to make a living while earning minimum wage,” Chamber CEO Bruce Williams said, noting that many Chamber members already pay higher than minimum wages.

However, increasing the cost for employers and businesses will result in higher costs for goods and services. Businesses set prices based on their costs, including payroll. Linking minimum wage to the outsized inflation of recent years is out of step with today’s economy and the pressures faced by recovering businesses.

“Increasing minimum wage by almost 4% creates a more challenging environment for businesses in BC, especially compared to Alberta where the minimum wage is now $2.40 less,” Williams said. “It doesn’t take a rocket scientist to see that adding expenses is not the way to attract employers to our province.”

And with fewer employers, there is less competition for employees — driving down their earning potential.

“No one wins when businesses leave because they can’t afford to operate here,” Williams said. “The best thing government can do is reduce the cost for entrepreneurs and the private sector. We want the economy to grow and lift everyone by enabling employers to hire more people and pay them competitive wages.”