The Burnaby Board of Trade is backing the B.C. Liberals’ “stay the course” 2015 budget.
In a press release, the board voiced its support of the new provincial budget, released Tuesday by Finance Minister Mike de Jong, after watching him deliver the budget speech live in the B.C. Legislature.
“The BBOT is generally satisfied with this ‘stay-the-course’ budget and is happy to see that there were no big surprises for the business community,” said BBOT president and CEO Paul Holden in the statement.
The budget notes the surplus for 2014-15 is on pace to reach $879 million – almost doubling previous forecasts – and projects a $284 million surplus for the fiscal year of 2015-16.
It also boasts funding increases of $3 billion and $564 million for health care and education, respectively, over the next three years, along with a number of benefits for families and young children.
Starting April 1, about 180,000 families will begin receiving the B.C. Early Childhood Tax Benefit, which provides up to $660 per year for child care for children under six. Additionally, children born on or after Jan. 1, 2007 will be eligible for a one-time Training and Education Savings grant of $1,200.
“The diversity in our economy and export markets have insulated B.C. from the worst of the economic downturn,” said de Jong in a statement. “The discipline we showed through the recession to bring the budget into balance has given us the flexibility to make modest, strategic investments that maintain public services like health care and education, as well as strengthen and encourage growth in key sectors.”
The BBOT praised the B.C. government for providing supports for the film and television industries, including an expansion of the Digital Animation or Visual Effects Tax Credit and an extension of the Interactive Digital Media Tax Credit to 2018.
“Having a balanced provincial budget and proving we can keep our fiscal house in order is just one more thing that sets B.C. apart and makes this an attractive place to do business,” stated Holden.
De Jong is scheduled to appear at a special reception with BBOT members on Thursday, March 19. Attendees will be able to network before hearing from the minister on the budget and what the coming months hold in store for B.C.
For more information, visit bbot.ca.
