This week, Canadians and British Columbians finally had their chance to see the financial impact the pandemic has had on our country and province. First and foremost, it’s clear these are not ordinary times. The Chamber and our national network understand that long-term economic health will require governments to get debt and deficits under control.

What we wanted to see from this week’s budgets were investments that will allow businesses to soar as the post-pandemic economy lifts off. The outlook is good, with the Bank of Canada calling for better than expected growth this year.

We’ve seen many Pivot Pilots adapt and succeed. Their resilience is inspirational and will help lead the way as Greater Victoria’s economy returns to the robust health we enjoyed before the pandemic. Below is a look at a few highlights from both budgets.

Federal budget’s focus on short-term is OK for now

Monday’s federal budget included a number of items advocated for by The Chamber.

Supports for businesses were extended, including the wage and rent subsidies. There were also funds for retraining workers to have the skills needed by employers. And we welcomed news of investment in child care that will help working mothers continue in their chosen careers. However, we’ll have to wait and see how quickly this will translate to accessible and affordable child care spaces in our region.

All in all, the budget delivered on continuing support for hard-hit businesses and, hopefully, will lead to less reliance on subsidies as businesses get back to thriving — and playing their role in growing the economy.

“The budget’s focus on growth and jobs is an important step towards our economic recovery, but our growth drivers will need to shift from public spending to private investment to help get our finances under control,” said Perrin Beatty, President and CEO of the Canadian Chamber of Commerce.

To hear more about the 2021 federal budget, register now for A Conversation with the Hon. Joyce Murray, Thursday, April 22, from 1:30–2 pm.

Provincial budget offers update on BC’s fiscal health

On Tuesday, the first provincial budget in two years estimates a deficit of $9.7 billion for 2021-2022, before recovering quickly in the next two years. BC will get back to balanced budgets within nine years, Finance Minister Selina Robinson announced.

The budget included funding for tourism recovery, and the province said it is working with industry to ensure money will help the hardest-hit businesses survive.

“We’ve been calling for immediate help for large tourism operators that anchor that vital sector,” Chamber CEO Bruce Williams said. “It was good to hear $100 million is being allocated for tourism, attractions and trails, and we look forward to seeing more details.”   

However, transportation companies are still waiting for funding.

“We’re hoping to see money that, in some cases, was announced very publicly, actually get into the pockets of businesses that need it,” Williams said. “As we recover from the pandemic, it will take much longer for the economy to recover if we have to rebuild transportation infrastructure that could be lost if those businesses are not able to hang on.”

To hear more about the 2021 provincial budget, register now for A Conversation with the BC Finance Minister Selina Robinson, Monday, April 26, from 3-4 pm.

Camosun College is getting $150,000 from the province to explore film industry training programs as well as the development of a film studio on campus in the District of Saanich.

“The investment from the BC government allows the college to further explore the feasibility of a film studio and sound stage at our Interurban campus and the exciting educational possibilities it could create for students,” Camosun College’s president Sherri Bell said in a news release.

The funds are a first step for creating the infrastructure needed to provide more opportunities for Vancouver Island’s film industry, which continues riding a wave of optimism in 2021.

“By working together, we can capture the opportunity to bring more big-budget movies and TV shows produced right here in Saanich and create the essential infrastructure for a successful creative industry on the south Island at large,” Saanich Mayor Fred Haynes said in a news release.

The City of Victoria is in the process of bringing back a ban on single-use plastic shopping bags. The revised bylaw goes to final reading on April 15.

The bylaw has been approved by the BC Ministry of Environment and Climate Change Strategy. The District of Saanich will vote on June 15 to restrict plastic bags in that municipality.

“The Chamber worked closely with the City to ensure the bylaw reflected the work already being done by businesses to reduce waste and look after customer requests,” Greater Victoria Chamber of Commerce CEO Bruce Williams says. “The public asked for this change and businesses responded. Victoria is to be commended for shaping the bylaw to ensure adoption by businesses, and for using a model that allows for seamless adoption of these regulations across our region.”

The restaurant industry has been told to expect restrictions on dining inside to extend beyond April and through to May. Representatives from the industry, including the BC Restaurant and Food Services Association, met with BC’s Provincial Health Officer Dr. Bonnie Henry this week. The restrictions, which the province called a circuit breaker, were set to expire on April 19.

Applications open for Circuit Breaker grants
Businesses adversely affected by the unexpected imposition of restrictions on March 30 can now apply for grants to help cover costs.

Businesses with between five and 99 employees or contracted staff are eligible for $5,000. Business with 100 or more employees can get $10,000, while businesses with between one and four people on staff can receive $2,000. If the business does not have any employees or contracted staff, a grant of $1,000 is available.
Apply for Grant