It is no surprise that the top priority for 2020 B.C. Election is Economic Recovery. Members believe that the B.C. Government should focus on immediate effective measures that help businesses recover and get people back to work without losing sight of efforts that underpin our competitiveness and future prosperity. At the same time, Greater Vancouver businesses believe that it is equally essential the government refrain from implementing measures that add administrative burden or additional costs on to businesses.
Over 60% of respondents believe the cost of regulations, compliance, taxes and fees affecting businesses have increased since 2017 (in comparison to 5% reporting they have decreased since 2017).
Businesses believe the most important support measures the B.C. Government should prioritize are:
- #1 Reducing or making regulations more efficient, cutting red tape (45%)
- #2 Support sectors that are positive economic multipliers for the region and province such as tourism and travel (38%)
- #3 Reduced fees for business (33%)
- #4 Reducing or eliminating the Provincial Sales Tax (PST) (32%)
- #5 Providing business with payroll/wage supports (31%)
- #6 Reducing commercial property taxes (30%)
In terms of economic recovery, the business community believes the following measures are the three most important that the B.C. Government should prioritize:
- #1 Creating better/more competitive conditions for investment in the province (43%)
- #2 Reducing the administrative burden or making regulations more efficient (41%)
- #3 Providing businesses with financial support (e.g. payroll/wage supports, providing capital or reducing taxes and fees) (39%)
Less than a third (30%) of respondents believe the B.C. Government is doing enough to provide available, affordable and flexible child care options so employees can return to work. (49% Should do more, 30% Doing enough, 21% Unsure)
Only 17% of respondents believe the B.C. Government is doing enough to reduce permitting processes in municipalities (62% Should do more, 17% Doing enough, 21% Unsure)
