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B.C.’s has unveiled a “coasting” budget lacking building blocks for increased productivity at a time when its large export industries are becoming less competitive, says the Business Council of B.C.
Eroding competitiveness is taking place amid an uncertain global economy. Businesses are further challenged by factors such as escalating regulatory costs and rising taxes domestically, B.C.’s carbon pricing tax system and previous increases to the corporate income tax rate.
“We must up our game on productivity,” said Greg D’Avignon, president and chief executive of the Business Council, which consists of 250 large companies, post-secondary institutions and industry organizations.
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