Minimum wage increasing for fed regulated sectors

​Building a more inclusive and diverse network of businesses will strengthen Canada’s economic resilience. On April 4-5, the federal Office of the Procurement Ombudsman hosts a virtual summit to raise awareness of the public and private sector programs that can help small businesses and businesses led by Indigenous Peoples, Black and racialized Canadians, women, Two-Spirit, lesbian, gay, bisexual, transgender, queer, intersex, and additional sexually and gender diverse people (2SLGBTQI+) Canadians, persons with disabilities and other underrepresented groups access federal contracting opportunities.

Former Gov. Gen Adrienne Clarkson is the keynote speaker. Now in its fifth year, the summit teaches the practical skills needed to win federal contracts. It’s also a chance to build connections with people in government who can help your business. The two-day summit runs from 8 am to 1:30 pm, April 4-5.

The Chamber to host Bank of Canada on June 8

In the world of business, the work done by central banks is always fascinating.

“We know our members like to hear directly from important policy makers so we are thrilled to welcome the Bank of Canada‘s Deputy Governor to Victoria to deliver the bank’s next Economic Progress Report,” Chamber CEO Bruce Williams said.

Bank of Canada Deputy Governor Paul Beaudry will deliver the report at a Chamber Business Leaders Luncheon on June 8 at the Victoria Conference Centre. Beaudry will discuss recent developments in the Canadian economy and the implications for monetary policy.

The Bank of Canada is the nation’s central bank. Their main role is “to promote the economic and financial welfare of Canada,” as defined in the Bank of Canada Act. Their main areas of responsibility are: Monetary policy, Financial systemCurrencyFunds management, and Retail payments supervision.

The Deputy Governor’s speech will be followed by a moderated Q&A.

Business Leaders Luncheon – Deputy Governor of the Bank of Canada
Thurs., June 8, | 11:30 AM – 1 PM
Victoria Conference Centre – Carson Hall

Housing help for CFB Esquimalt benefits our region

The Chamber applauds news of a Canadian Armed Forces housing benefit that will help make life a little more affordable for people stationed at CFB Esquimalt. With one of the higher costs of living in the country, Greater Victoria is a challenging region for employers looking to find and keep employees. This is amplified when people living in areas with lower housing costs are asked to move here for their job.

The Canadian Forces Housing Differential takes effect July 1 and replaces the current allowance for members of the military living in expensive communities. The new benefit is tied to income to help lower earning members.

The Chamber is also supportive of ongoing efforts to develop more housing for CFB Esquimalt members. The Department of National Defence has previously announced plans for an 84-unit apartment on the base.

“This is a great example of how non-market housing can help add homes to our region’s housing supply that are catered to the needs of a specific employer or sector,” Chamber CEO Bruce Williams said. “This will eventually allow for more market homes to be available to people in other industries.”

BC Budget 2024: Chamber set to continue advocacy

The Provincial Budget for 2023 was only recently announced but consultation for the 2024 is already underway. The Chamber has asked to meet in-person with the Select Standing Committee on Finance and Government Services, as we do every year.
 
Public hearings are anticipated to take place in late May and June. Chamber members with questions or comments on next year’s budget are encouraged to share with our team at communications@victoriachamber.ca.

Media launch helps kick off 48th Flower Count

The Pacific Ocean wields immense influence over the weather, regulating Greater Victoria’s famous mild climate and warming the air deep into Central Canada. It’s why our region is typically the first in the country to experience the signs of spring. The phenomenon gave rise 48 years ago to a tradition that continues to this day.
 
The 2023 Greater Victoria Flower Count — which officially begins today — kicked off on Monday with speeches on the immaculate front lawns of the Fairmont Empress Hotel.
 
Flower Count only lasts one week: March 8 – 15, so we invite you to get involved!
 
Count your blooms to make sure your municipality becomes this year’s Best Bloomin’ Community, and enter our social media contest and #humblebrag with a pic of local flowers. You may even win Afternoon Tea for two at the Fairmont Empress! See below for more information.
 
The event was well attended by local media. You can read their coverage here:

Picture

Destination Greater Victoria’s Paul Nursey, left, on the lawn of the Empress with Colwood Councillor Dave Grove, Fairmont Empress’s Victoria Dyson and Greater Victoria Chamber of Commerce’s Bruce Williams.

Rising real estate market another sign of spring

Seeing tiny buds turn to bright blossoms is a sure sign of spring. Another, at least in Greater Victoria, is the growing buzz around the region’s real estate. Sales in February were up 65.5% from the month before — though still down from February 2022.
 
“The market is seeing some positive growth as we move into springtime, which is traditionally the busiest market for home sales,” Victoria Real Estate Board Chair Graden Sol said in a media release. “Inventory levels are starting to increase, a welcome trend when compared to the record lows of last year. We’re also seeing a stabilization at some price points and properties that are priced in accordance with current market conditions are selling at a good pace.”
 
There were 1,809 active MLS listings for sale in Greater Victoria at the end of February. That’s up from 849 for the same period in 2022. The benchmark value of a single family home was $1.25 million in February, down from $1.32 million in February 2022. Benchmark value for a condo dropped from $580,900 to $568,200.

Legislation will require wage transparency in BC

New legislation introduced yesterday by the provincial government will require employers to include wage or salary ranges on all advertised jobs. The move is aimed at closing the gender pay gap in BC. The new law, once passed, will prohibit employers from asking prospective employees about their pay history or prevent staff from disclosing their own pay to co-workers or job applicants.
 
The rules will take effect Nov. 1, and will also include a staged implementation of reporting requirements for employers.

  • Nov. 1, 2023: BC Public Service Agency and Crown corporations 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.

 
BC’s Ministry of Finance will publish an annual report by June 1 that will serve as centralized reporting of gender pay in British Columbia.

Bank of Canada sticks with pause on rate hikes

As expected, the Bank of Canada held off on changing its target interest rate. The move signals that efforts to curb inflation are working. The forecast is for inflation to keep falling and reach 3% by summer. Statistics Canada will provided its next update on the Consumer Price Index on March 21.

Complex care a good step toward safer communities

A priority for business that has become more urgent in recent years is the fundamental need for safe communities. It’s clear there’s no simple answer, but one of the evidence-based solutions is the need to do more to address mental health.
 
“Our members have been vocal about the need for better support for people facing mental health and addiction challenges,” Chamber CEO Bruce Williams said. “This is how we can begin to address the situation we see on our streets and in parks, as well as the hidden struggles that many people are going through silently in their own homes.”
 
The Chamber has advocated to government for investment in complex care, so we applaud the news of an $8.2-million provincial grant to the Canadian Mental Health Association.
 
“We are honoured to be part of the solution, co-designing care to improve health, social and employment outcomes for people with long-term experience of complex barriers to employment,” CMHA BC Division CEO Jonny Morris said. “We are excited to see the expansion of behavioural health-care integration with primary-care centres in more sites in B.C.”

BC Finance Minister to address Chamber members first after budget day

On Feb. 28, the provincial government will unveil its 2023 budget for the province. It should offer more details on how Premier David Eby plans to pay for many of the promises he’s made over his first 100 days in office. The next day, The Chamber will be the first business organization to host a conversation with BC Finance Minister Katrine Conroy after the budget has been made public.
 
As a Chamber member, you can be among the first to hear from Minister Conroy about how Budget 2023 will help your organization thrive. This is an opportunity to speak to a high-ranking cabinet minister about your priorities for your business. This event will sell out fast so register now to reserve your spot.
 
With the uncertain state of international economies, businesses are concerned about rising costs. It’s important government understands concerns and questions about BC Budget 2023.
 
Send your questions about BC Budget 2023 to communications@victoriachamber.ca and we will add them to our list to ask the Finance Minister.