C-5 aims to rebuild Canada’s economic momentum

An economic evolution that the national chamber network has been working on for years is one step closer to reality this week. On June 23, the federal government passed legislation to vastly improve free trade and labour mobility between provinces.

Without this legislation, large-scale energy and infrastructure projects have routinely been delayed by regulatory gridlock, rising costs and political indecision.

“The Canadian Chamber of Commerce applauds the federal government for urgently introducing and passing Bill C-5 in the House of Commons,” Canadian Chamber Executive Vice President and Chief of Public Policy Matthew Holmes said, adding the ongoing tradewar with the US administration drove home the need to diversify. “We cannot have all our eggs in the United States economic basket any longer.”

Projects where fast-tracking has the broad support of impacted First Nations, Métis and Inuit communities should be the first to be considered.

“Canada’s business community firmly believes we can end project paralysis while working in collaboration with Indigenous rights holders and communities while maintaining world-class environmental standards,” Holmes said. “We know respect and partnership for shared prosperity are the path forward. The Canadian Chamber does not believe a major project is viable in the absence of clear community level support and expects Canada to meet its legal obligations to consult and cooperate with Indigenous peoples, per the United Nations Declaration on the Rights of Indigenous Peoples Act adopted in 2021.”

Bill C-5 is just the first step. The onus is now on the federal government to deliver so that we can build economic momentum in Canada and show the world we’re serious about growth, energy and getting big things done.

Report calls for changes to ease port labour disputes

The federal government has released a report on Canada’s West Coast ports, including recommendations to protect critical supply chains.

The Industrial Inquiry Commission on West Coast Ports found that changes need to be made to reflect the increasing importance of global supply chains on our economy.

“The strain on Canada’s supply chains has been compounded over recent years by repeated labour disruptions, resulting in 2023 holding the unfortunate record of most working days lost since 1986,” Canadian Chamber Vice-President Pascal Chan said. “As our economy contends with a productivity crisis, Canadian businesses cannot afford these continual major trade infrastructure shutdowns that prevent them from reliably delivering the goods.”

The impact of recent labour disputes has had serious implications on Greater Victoria and Vancouver Island, as we are dependent on the flow of goods for our food security as well as many of our livelihoods.

Work continues on reducing internal trade barriers

With less than two weeks to go for Canada’s new Prime Minister to meet his promise of reducing barriers to inter-provincial trade, the national chamber network is encouraging lawmakers to move quickly.

On Monday, the Canadian Chamber appeared before a Senate committee to highlight the urgent need to reduce internal trade barriers and accelerate the development of critical infrastructure across Canada. The delegation also reiterated Canada’s role in ensuring energy security, supporting Indigenous partnerships and restoring investor confidence through regulatory reform.

The government has said that removing internal trade barriers would reduce prices by up to 15% and add up to $200 billion to Canada’s economy. According to Scotiabank, there is a lot to understand the impact removing inter-provincial trade barriers could have on our economy.

“The (barriers) are basically a lot of these small differences in regulatory standards that just make it that much more difficult to trade internally. When we think about trade barriers, often we think about them as anything that makes trading more difficult,” Scotiabank’s Senior Policy Advisor John McNall said. “They can be these little unintentional frictions that add up over time. For example, think of a nurse or an electrician who’s working in a particular province, they’re licensed to work in one province. But if they want to move over to another one, their licence doesn’t necessarily carry over. These sorts of little technical standards or regulatory changes create extra costs for businesses. None of these laws are created maliciously, the province is implementing what it feels is best for business in that jurisdiction, but they become an issue when regulations are different between provinces.”

Armed Forces funding good news for Greater Victoria

Last week, the Canadian Chamber took part in the federal government’s announcement that Canada is investing in rebuilding our Armed Forces. The move is expected to help the economy, especially in communities such as Greater Victoria that are home to significant Armed Forces infrastructure.

“Canada has a long and proud history of remarkable military and peacekeeping achievements around the world. From NORAD to Operation UNIFIER in Ukraine, to defeating forest fires here at home, Canada’s military personnel have stepped up and defended Canada and Canadian interests in extremely difficult and dangerous conditions,” Canadian Chamber CEO Candace Laing said. “The inclusion of cyber security and year-round Canadian presence in the Arctic as key features reflects the global reality we live in.”

While there was no specific mention of bases such as CFB Esquimalt, the government did promise to improve pay for Armed Forces personnel. More than 4,000 currently are based out of CFB Esquimalt.

Prime Minister Mark Carney said Canada will achieve NATO’s 2% this year — half a decade ahead of schedule – promising more than $9 billion invested in 2025-26.

“In addition to making Canadians and Canada safer amidst rising geopolitical uncertainty, these investments signify that we are serious about securing and protecting our trade relationships and the global supply chains that we play a pivotal role in,” Laing said. “As global threats evolve, so must we. The Canadian business community stands ready to support achieving this vital national mission.”

Panel releases plan to make Victoria safer for business

How can we make our communities safer? It’s a fundamental question that speaks to the very foundation of our region’s economy.

On June 19, the City of Victoria will consider the Community Safety and Wellbeing Plan that was created through the input of a 10-person panel that began meeting 18-months ago.

“We know Chamber members want more done to protect businesses, as well as helping those who are facing mental health and addiction challenges,” Chamber CEO Bruce Williams said. “We’re happy that the panel included people who were able to provide an important perspective from the business community.”

The plan focuses on the need to invest in prevention rather than chasing problems after they manifest. This approach requires support from higher levels of government, even though the municipality is often on the frontline.

“Underpinning many of the recommendations is the knowledge that local government is the closest to the issues and the most attuned to the needs of its own community,” the plan states. “Local governments are highly adaptable in addressing emerging issues, and responding quickly and efficiently. Additionally, key resources for community safety and wellbeing such as parks, public works, protective services, urban planning, and business development are already part of the City’s municipal framework and can adapt to emerging community needs.”

Feds expand summer job subsidy for students

The latest job numbers show that Greater Victoria, at 3.7%, continues to have one of the lowest unemployment rates in Canada. The average rate across the country for May was 7%. However, the rate for students ages 15 to 24 was 20.1%. It’s increased steadily each year from a low of 11.4% in May 2022.

To help, the federal government is reallocating $25 million from internal funds to subsidize an additional 6,000 summer jobs on top of the 70,000 already supported by the Canada Summer Jobs program.

“From now until July 21, young job seekers between the ages of 15 and 30 can find local job opportunities on the Job Bank website and mobile app,” a media release from Employment and Social Development Canada stated. “Youth can apply for summer jobs in fields that interest them, such as the recreation sector, the food industry and marketing and tourism. Jobs are also available in a variety of high-demand and growing fields, including housing construction and environmental protection.”

Chamber advocacy efforts underway with feds

Tuesday’s historic Speech from the Throne read by King Charles III included some promising policy shifts to address Canada’s housing supply.

Acting as the current embodiment of Canada’s sovereignty, the King read a script prepared by the governing Liberal Party. The ritual was a not too subtle reminder to the US administration that Canadians are fed up with annexation rhetoric.

For business, the start of a new government session is a chance to see how campaign promises will be delivered. Housing is a major concern in Greater Victoria, and the Speech from the Throne included a promise to cut the GST for home valued at $1 million or less, saving buyers up to $50,000. The speech also promised to lower the GST on homes between $1 million and $1.5 million — a sweet spot for single family homes in the region.

“As a Chamber, we advocate for housing solutions to address fundamental challenges in Greater Victoria,” Chamber CEO Bruce Williams said. “We need housing supply to help attract people who contribute in all sectors of the economy, but specifically for folks who are required to staff our hospitality and retail industries. And we need homes for people struggling to stay housed. Simply put, housing is at the core of allowing employers to operate at their full potential and helping keep our communities safe for everyone.”

To encourage the new government to stay focused on business needs, the Canadian Chamber has sent the new cabinet “Mandate Letters.” Getting these to new ministers early in their terms is part of the strategic advocacy done to build good relationships that allow the business community to have its voice heard by government.

Chamber CEO held meeting with new Prime Minister

Good business requires good relationships, and the same holds true for making sure your voice is heard by government.

The Chamber has earned a seat at the table with decision-makers in all levels of government, including newly elected Prime Minister Mark Carney.

Carney’s staff recently approached Chamber CEO Bruce Williams for a one-on-one conversation to learn more about challenges facing Greater Victoria’s business community.

“I was surprised and grateful for the chance to speak up on behalf of Chamber members in Greater Victoria,” Williams said. “We are a region that punches above our weight economically and The Chamber has a long tradition of making sure our government knows what our private sector is asking for to help it thrive.”

Carney met with US President Donald Trump on Tuesday to begin rebuilding Canada’s relationship with its southern neighbour. The US administration’s threat of additional tariffs has created economic uncertainty in Canada and around the world.

Federal election shifts local political landscape

Greater Victoria’s federal landscape is a little more colourful after Monday’s election saw the Liberal Party of Canada return to power.

Our region elected two members who will be part of the new government. In Victoria, Liberal candidate Will Greaves picked up 54.3% of ballots to beat the NDP incumbent Laurel Collins, who earned 24.9% of votes. In Esquimalt-Saanich-Sooke, Stephanie McLean won the riding for the Liberals with 49.2% of votes.

“We look forward to working with these new members of government to bring investment to Greater Victoria,” Chamber CEO Bruce Williams said. “We also congratulate Green Party co-leader Elizabeth May for her re-election in Saanich-Gulf Islands, and we welcome Conservative Party candidate Jeff Kibble, who was elected in Cowichan-Malahat-Langford.”

With red, blue and green ridings, our region promises to be a dynamic representation of the country. Currently, the Liberals have a minority government with 169 seats with the Conservatives forming the opposition with 144 seats. May represents the Greens only seat.

The NDP, who represented six of the seven Island before the election, were reduced to one on Monday.

Nationwide, the Liberals are three seats shy of a majority and will likely need to reach a deal with another party to form a minority government.

Low unemployment rate reflects recruiting challenges

It might be uncertain times, especially for global trading and the stock markets but we can count on Greater Victoria having a low unemployment rate.

Our region has the second lowest unemployment rate in Canada at 3.6%, behind only Saguenay, Quebec, which is at 3.4%.

Finding and keeping workers has been a challenge for Greater Victoria employers for at least 10 years. It’s an area that Chamber members continue to ask us to prioritize in our advocacy.

“We have the reality of living with a double-edged sword. Our region is one of the most desirable places in the world, but that also makes us an expensive area to call home,” Chamber CEO Bruce Williams said. “We need investment in infrastructure — housing supply, transportation and affordable childcare — to attract working people and families.”

To hear more about how The Chamber and our partner organizations are working together to build good business and great community for all, register for an upcoming advocacy event.

On April 15, The Chamber’s AGM and panel discussion will look at how the Canada-US relationship affects our region’s economy. And on April 16, The Chamber and partners host Canada Votes 2025, a Listening Session for Federal Election candidates.