Trade, Productivity & Competitiveness
BC’s ability to adapt to a rapidly changing world economy will depend on how well we can find new ways of doing business, adopt new ideas and practices, and connect with new trading partners. The Council encourages public policies that support research and innovation, business practices that increase productivity, connections that open new trading opportunities, and processes to commercialize BC’s best research.
Finlayson & Peacock Op-Ed: Income tax rates: Canada’s growing competitive disadvantage (Business in Vancouver)
Among all advanced economies, Canada imposes one of the heaviest income tax burdens on highly skilled people
The federal budget presented last month offered a timely reminder of something that many Canadians might not realize: a huge slice of Ottawa’s revenue comes from a single source, the personal income tax (PIT). Federal PIT revenue is projected to reach $152 billion in 2017-18, which is half of all of the money hoovered up by the national government. PIT is also the No. 1 revenue source for the provinces, although it makes up a significantly smaller portion of their tax base than of Ottawa’s.
Finlayson Op-Ed: Canada's over-hyped clean-tech revolution (Troy Media)
Across Canada, politicians have become bedazzled by the potential of the “clean tech” sector to drive economic growth. The 2017 federal budget earmarks more than $2.2 billion in new spending to boost the industry, with a particular focus on accelerating the commercialization of products and technologies that promise to lessen the environmental impact of energy and water use, transportation, and other industrial activities.
Slideshare: Turbulent Times: Our economic prospects in an uncertain world
In his April 6, 2017 presentation to the Annual Council of Forest Industries Conference, BCBC Chief Policy Officer Jock Finlayson described the state of the global, American and Canadian economies and their potential impact on BC's forest sector.
Slideshare: BC Economy Still Healthy...But Growth Will Downshift in 2017
This slideshare presentation walks through the lastest BCBC BC Economic Review and Outlook Report.
The Investment Conundrum
Business non-residential capital spending has been on a declining trend for three years. The slump is particularly evident in the energy sector, but the weakness has spread well beyond the oil and gas industry.
BC Exports in 2016: Five Points of Interest
BC is a small, open, trade dependent economy. As such, exports play a big role in underpinning prosperity and stimulating growth. When exports rise, BC’s economy generally strengthens. Given the dominant role that natural resources have in BC’s overall export profile, exports are also the backbone of many smaller communities around the province.
RELEASE: Budget 2017 Offers Opportunities for Innovation, But BCBC Cautious on Canada's Overall Competitiveness
Today's federal budget, delivered at a time of significant global uncertainty, abrupt shifts in markets, and accelerating technological change, offers new opportunities for innovation and emerging sectors. However, the Business Council of British Columbia remains cautious on the implications of the continued federal deficit and questions whether enough is being done to strengthen Canada's competitiveness.
BC Economy Still Healthy...But Growth Will Downshift in 2017
Following three years in which BC topped the provincial growth charts, in 2017 our economy will lose a bit of momentum.
The Expanding Role of Renewables in the Global Electricity Market
This edition of the Environment & Energy Bulletin examines the current global and national state of renewables in electricity markets and highlights BC's advantage, and opportunities, stemming from our 98% renewable electricity grid.
Finlayson Op-Ed: Growing more large companies should be a key policy goal for B.C. (Troy Media, Exchange Magazine & Castanet)
The B.C. government recently published its annual “small business profile,” a document that highlights the role and impact of the small business sector in our economy. The table below summarizes the distribution of B.C. businesses by size category. Of 396,000 enterprises, more than half are one-person operations with no paid employees. Another 109,500 have between 1-4 staff. Just 7,700 have 50 or more employees. And perhaps 1,500-1,750 of these have surpassed the 100 employee threshold.
BC Jobs Part I: A Visual Summary of BC's 2016 Job Performance Within Canada
In this first of a two part series of blogs on BC Jobs, we provide an overview of employment growth in 2016 within a comparative national framework.
NEWS RELEASE: Budget 2017 Moves Toward Improved Business Competitiveness While Still Balancing the Books
Victoria - The Business Council of British Columbia welcomes today’s provincial budget, which managed to find room for tax relief while maintaining the government’s commitment to balance the budget. This is a noteworthy accomplishment at a time of global uncertainty and when most other provinces continue to face budgetary shortfalls. Keeping the books balanced reaffirms the government’s commitment to prudent fiscal management, and provides BC with some policy flexibility going forward.
“Delivering a balanced budget within a climate of modest economic growth and a mixed outlook for commodities sets BC apart and signals that the province is a stable place to invest and do business,” said Greg D’Avignon, President and Chief Executive Officer of the Business Council of British Columbia. “We congratulate Minister de Jong and his cabinet colleagues for their continued focus on disciplined expenditure management.”
BC2035 is about creating a shared vision of BC’s future and laying down a pathway to realize that vision. It is about initiating conversations, fostering greater collaboration and getting politicians, policy makers, First Nations leaders, and business leaders to think about, prepare for and act on the future.
Finlayson & Peacock Op-Ed: Retooled U.S. tax regime could erode Canada’s competitive advantage (Business in Vancouver)
As U.S. President Donald Trump settles into office and the Republican-controlled Congress begins work on its legislative agenda, it is clear that sweeping changes are in store for U.S. policies in several areas. Overall, the direction of change is likely to pose some significant economic challenges for Canada.
Assessing The New US Administration's Impact on BC's Natural Resource Industries
What the US Administration does on trade, energy and environmental policy matters to BC’s natural resource sectors, and to the overall health of our economy.
RELEASE: BCBC Welcomes Provincial Government Approval of the Trans Mountain Pipeline Expansion Project
The Business Council of British Columbia welcomes today’s decision by the province to grant an environmental assessment certificate, with conditions, to the Trans Mountain Pipeline Project and to confirm that this project has met the government’s five conditions. This is an important step in advancing a nationally significant project that will deliver benefits to British Columbia communities and workers while meeting growing global demand for oil.
Finlayson Op-ed: Trump's energy, environmental policies threat to Canadian business (Troy Media and Times Colonist)
As President-elect Donald Trump prepares to assume office, it is clear that major changes are in store for American climate and energy policy. Mr. Trump’s cabinet appointments, read in conjunction with the Republican Party’s platform in the 2016 election, leave little doubt that the United States will be adopting an approach to climate and energy policy that differs markedly from the one embraced by the outgoing Obama administration.
Five Important Stories Affecting the BC Business Community in 2016
A list of five important stories affecting the BC Business Community in 2016 from the Real Estate boom to the opening of the Microsoft Vancouver development centre.
Tapping into a "Motherload" of Opportunity
Women, particularly in the child-rearing years of 20-49 years, are less active than their male peers in the workforce. This particular group of sub-optimally engaged women exemplify “missed opportunity."