Business Council Releases Economic Blueprint to Strengthen B.C.’s Economy Amid U.S. Tariff Threats
Vancouver, B.C. – With B.C. already facing domestic economic challenges, new U.S. tariff threats add another layer of uncertainty for businesses and workers. In response, the Business Council of British Columbia (BCBC) has released an economic blueprint outlining ten policy ideas to strengthen the province’s economy and ensure B.C.’s competitiveness in a rapidly changing global environment.
The report, Strengthening B.C.’s Economy Amid U.S. Tariff Threats, outlines practical, high-impact policy recommendations in three key areas:
Restoring Fiscal Stability and Tax Competitiveness: Strategies to put B.C. on a sustainable financial track while attracting investment and talent. Key measures include exempting all capital investment from the provincial sales tax and reducing the province’s top marginal income tax rate.
Growing the Economy While Reducing Global Emissions: Policies that leverage B.C.’s natural resource sector can attract investment, diversify trade, and drive economic growth while lowering global emissions. Key recommendations include reforms to carbon pricing, emissions caps, and permitting processes to position B.C. as a leader in responsible energy development.
Encouraging an “Open for Business” Mentality: Actions to improve investor confidence, streamline regulations, and remove interprovincial trade barriers to support business growth.
“B.C. has a mountain to climb when it comes to strengthening our economy and reinforcing our competitiveness—but the view from the top will be worth the effort,” says Laura Jones, President & CEO of BCBC. “This report provides a roadmap forward with policy ideas that can set the province on a better track. However, turning the economy around and creating an environment that attracts business investment will require ongoing focus and commitment from our political leaders.”
Today’s report comes as the B.C. Government prepares to table its 2025 budget on March 4, and just days before new U.S. tariffs could be imposed on Canadian exports on March 1.
“The Trump administration has our industrial base in its sights,” said David Williams, Vice President of Policy. “B.C. must respond by ensuring this province is an attractive place to invest, build businesses and retain skilled workers relative to the United States.”
Many of the proposed measures, such as exempting capital investment from the PST and reforming regulatory processes, would remove barriers to economic growth while improving B.C.’s ability to attract and retain businesses and skilled workers.
BCBC will also publish a separate set of policy recommendations for the federal government, emphasizing the need for stronger federal-provincial collaboration to maintain Canada’s global competitiveness.
The full report can be accessed here.
