The province’s underground economy, however, has even more to boast about, according to a new report from the Business Council of B.C. (BCBC).
The April 11 report pegs growth in B.C.’s “shadow economy” — hidden economic activity, both legal and illegal — at 8.1% in 2016 compared with official GDP growth of 4.8%, before inflation.
The nation’s underground economy, meanwhile, grew at a rate of 3.5% that same year.
The report, penned by economist and BCBC vice-president of policy David Williams, pointed to 2013’s reintroduction of the PST as one of the factors driving growth.