A Request for Qualifications has gone out for the design and construction of a modern Belleville Terminal. The RFQ will lead to a shortlist for the Request for Proposals to carry out the upgrades to the terminal.

The project has a $303.9 million budgets and is expected to be completed ahead of the 2028 tourism season. The federal government has confirmed $41.6 million for the project.

After the upgrade, the terminal will be in compliance with the Canada-U.S. Land, Rail, Marine and Air Transport Preclearance Agreement, allowing passengers to complete the US customs and immigration process in Victoria, prior to disembarking in the United States.

The Songhees Nation and Esquimalt Nation will be able to showcase the cultural and geographical significance of the project’s location, and welcome visitors into Lekwungen territory.

Travellers spend approximately $174 million annually, generating $268 million in economic output and $155 million in provincial gross domestic product (GDP).

“As a gateway to Canada, to British Columbia and to our region, Belleville Terminal serves as a vital connection point for trade and tourism. The Greater Victoria Chamber of Commerce has made the case for modernization for more than 20 years,” Chamber CEO Bruce Williams said. “I’m encouraged to see progress being made now. There is an urgency to ensure Belleville can continue to serve as an important border crossing and point of entry, and the time is now for this project to happen.”

Starting last week, all employers in BC will need to include salary or wage information on publicly posted jobs. BC’s new Pay Transparency Act takes affect Nov. 1.
The goal is to try to ensure all people are offered the same pay for the same work, and prohibits employers from asking prospective employees about how much they earned in the past. As well, employees can’t be punished for disclosing what they are being paid.
Large and medium-sized employers must also begin publicly posting reports about their gender-pay gap, based on a phased approach:

• Nov. 1, 2023: BC Public Service Agency and Crown corporations and public agencies with more than 1,000 employees (ICBC, BC Hydro, WorkSafeBC, BC Housing, BC Lottery Corporation and BC Transit)
• Nov. 1, 2024: all employers with 1,000 employees or more
• Nov. 1, 2025: all employers with 300 employees or more
• Nov. 1, 2026: all employers with 50 employees or more.

The effect of high interest-rates is measurable, with Statistics Canada’s latest Survey on Business Conditions showing many businesses are challenged by increasing costs and reduced customer spending.

The Canadian Chamber’s Business Data Lab explores the stories behind the numbers, including an analysis by Chief Economist Stephen Tapp.

“Continuing cost pressures explain why firms’ pricing behaviour still hasn’t normalized yet, even though headline inflation has slowed,” Tapp said. “Thankfully, the labour market is loosening up, although there are still significant challenges in sectors such as health care, accommodation and food services, manufacturing and construction. Supply chains are also recovering from their peak difficulties of last year, but they too remain problematic for affected companies.”

The provincial government has capped the allowable rent increase to 3.5% for 2024.

Landlords who plan to raise rent in 2024 will need to provide tenants with three months notice using the correct form and following specific rules.

BC’s Minister of Housing, Ravi Kahlon, said costs are increasing for landlords and tenants. The need for affordable housing well documented, but many property owners are facing higher costs for repairs, financing and maintenance. The province claims the 3,5% cap will keep people housed while making sure rental units stay on the market.

The rent increase cap does not apply to commercial tenancies, non-profit housing with rent geared to income, co-op housing and some assisted-living facilities.

The Bank of Canada announced this morning that it was holding its interest rate at 5%, as expected. The next announcement is Oct. 25.

The Bank’s Governing Council said there are signs that supply is catching up to demand, and it is still assessing how previous rate hikes are affecting the economy.

“However, Governing Council remains concerned about the persistence of underlying inflationary pressures, and is prepared to increase the policy interest rate further if needed,” said the news release issued by the bank.

The pause comes as political pressure increases to stop raising rates, though the Bank has been clear it’s committed to restoring price stability for Canadians and does not make decisions based on government requests.

“I know a lot of our members are affected by increasing costs caused by inflation and higher interest rates,” Chamber CEO Bruce Williams said. “It’s not an easy time, but we’re also seeing investments in more efficient operations and a focus on sustainability that will make our community more resilient in the long run.”