Premier David Eby said an NDP government would address concerns of business about red tape with an “ease of doing business” review, and address cost of living concerns with a middle class income tax cut.
He also said his government would work to establish the industrial land reserve that the business community has been pushing for.
He made the commitments Wednesday at a leaders luncheon sponsored by the Greater Board of Trade (GVBOT), which also heard from B.C. Conservative Leader John Rustad and Green Party Leader Sonia Furstenau.
Polling shows that housing affordability is a top concern for British Columbians, including B.C.'s business community.
A survey of Metro Vancouver citizens and business by the Mustel Group cites a lack of economic vision in B.C. as the number one concern for businesses, followed by housing affordability, cost of living, crime and public safety, health care and the general investment climate.
“The survey results show that voters will reward the party that is able to provide the best plan that connects affordability with a credible economic plan,” Mustel said in a press release. “From the affordability and healthcare crisis to transportation and public safety the public is looking for meaningful action and better outcomes in the future.”
A top concern for the business community is B.C.'s high tax regime. According to the BC Chamber of Commerce, the NDP government has implemented 29 new or increased taxes since forming government in 2017.
Acknowledging that British Columbians are struggling with the cost of living, Eby recently announced a new an income-tested tax cut, with single people making up to $100,000 a year getting $500 knocked off their provincial income taxes, and $1,000 for households making up to $250,000.
Eby also promised to deliver the tax breaks in the form of rebates that would be "available immediately, unlike John’s proposal which is for 2029.”
He referred to Rustad's promise of a rebate to help renters and homeowners, which would be delivered in the form of a provincial tax exemption.
British Columbians may be rightly skeptical about promises of rebates, given that the NDP government promised a $400 renters rebate in the 2017 election campaign that never materialized.
Eby noted that GVBOT has been calling for the creation of an industrial land reserve. He gave assurances Wednesday “we will be ensuring that we work with you on that to make sure that the industrial land is there for the jobs of the future.”
Another concern of the business community is the NDP government's deficit spending. The current budget deficit is projected to be at least $9 billion.
Half of the businesses surveyed by the Mustel Group wanted to see the provincial budget balanced, Mustel said at Wednesday's luncheon.
Asked if he had any plans to reduce government spending tp address the deficit, Eby said: “Now is not the time cut. It’s not the time to cut health care or capital programs.”
He defended his government's spending by pointing to population growth, which increases the demand on government services.
“We added 300,000 people to our province in the last two years," he said. "We can’t pretend that didn’t happen. We have to build schools, we have to hire teachers, we have to build hospitals.”
