News Releases
BC Chamber of Commerce Optimistic About Provincial Economic Position
November 24, 2008 – Despite challenges, the Province’s economic update gives the business community reason to feel encouraged, says the BC Chamber of Commerce in response to Finance Minister Colin Hansen’s release today of the Second Quarterly Report.
“With the federal government and several provinces openly talking about recession the Provincial Government must be congratulated for its responsible fiscal management thus far,” said John Winter, President & CEO of the BC Chamber of Commerce. “While there are significant challenges ahead, our foundation of low taxes, reduced regulation and an increasingly diverse economy are going a long way towards mitigating the impact of the financial storms that are raging around us.”
The Chamber was especially pleased to note that BC’s annual real GDP is still forecasting growth in the range of 1.3%, above the Canadian average. Further, the Chamber was pleased to note that with a $450 million surplus and a $500 million forecast allowance the province is well placed to retain a balanced budget.
“What is perhaps most encouraging is that while this Quarterly Report includes the impact of the Premiers 10-point plan on government revenue it does not take into account the positive impact these tax cuts will have on the economy,” said Winter.
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For more information on this issue please contact;
John Winter
President & CEO
BC Chamber of Commerce
D 604 638 8110
C 604.376.3577
E jwinter@bcchamber.org
