Payroll tax change welcomed, though questions remain about province’s fiscal path: Budget 2024

“Increasing the EHT exemption is welcome news for business. The experience in other provinces has shown we can expect an increase in productivity as employers have more room to increase wages and promote staff,” said Bruce Williams, CEO of the Greater Victoria Chamber of Commerce, noting The Chamber has been calling for the change since the new tax was introduced in Budget 2018.

Minister Conroy joined Chamber members the day after budget day to answer questions and highlight initiatives such as a new tax to deter home buyers from quickly reselling their properties, and a promise to cover the cost of one cycle of invitro-fertilization.

Asked about efforts to improve public safety, Conroy noted the province has increased investment in mental health and addiction treatment programs.

Business leaders were also concerned about rising debt with the budget including a record deficit.