Minimum wage itself doesn’t address affordability

The minimum wage in BC increased June 1 from $15.20 to $15.65 per hour. The increase is based on the average annual inflation rate of 2.1% in 2021.
 
“According to the province, the increase helps workers but if governments really want to tackle affordability concerns they need to address the fundamental reasons affecting the cost of living,” Chamber CEO Bruce Williams said. ” We need more housing, which requires a concerted effort to allow builders to build — less red tape and more help attracting workers and getting materials to our region.”
 
The Chamber continues to advocate for real solutions that add to Greater Victoria’s workforce housing and reduce costs of other major expenses, such as child care and transportation.
 
“Raising minimum wage can hurt the economy by making it harder for some of our major employers to get high school and college students into the workforce,” Williams said. “We’ll keep working with our partner organizations to make sure employers have a say on any future increases to minimum wage — especially with atypical factors affecting inflation right now. Government needs to understand that increasing the cost of doing business affects affordability for everyone.”