Business Council of British Columbia has shared its views on the economy and some initial recommendations on Budget 2016 with the Standing Legislative Committee on Finance and Government Services. The Council encourages the Committee to take note of the current uncertain global economy and to recognize the need to bolster the province’s competitiveness – particularly in the traded industry clusters that are central to BC’s prosperity.

As part of the submission to the Committee, the Business Council recommends that Budget 2016 consider implementing the following changes on a multi-year basis to ease the financial impact:

1. Consider broadening existing PST exemptions on new capital investment
2. Exempt electricity used by industrial and commercial firms from PST
3. Eliminate the PST on telecommunications services used by business
4. Reform the system for determining municipal property taxes on business and industry in British Columbia

Download full submission