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B.C. budget fails to 91Ƶexcite91Ƶ Kelowna business community

Chamber says Budget 2020 lacks a clearly defined competitiveness strategy
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B.C. Finance Minister Carole James presents her 2020 budget at the Victoria Conference Centre, Feb. 18, 2020. (Tom Fletcher/Black Press)

While the recently unveiled 2020 provincial budget may get a passing grade for being balanced and protecting B.C.91Ƶs AAA credit rating, it did not excite the business community.

That91Ƶs according to the Kelowna Chamber of Commerce, which claimed the budget91Ƶs increase in spending is coming at the expense of businesses facing ever-increasing taxes.

91ƵWe were hoping to see relief on the taxes that are holding small businesses back, like adjusting the threshold with the Employers Health Tax, or a prudent approach for big business that will help them compete globally,91Ƶ said chamber president Nikki Csek.

91ƵOur biggest producers and commodity exporters are paying one of the highest carbon taxes in the world91Ƶ this isn91Ƶt an environment that encourages investment.91Ƶ

The chamber described the budget as a missed opportunity, saying it failed to outline a broad vision on how the government plans to ensure B.C. remains a competitive jurisdiction that welcomes entrepreneurs.

91ƵIt will take a few days to get through all the information. And, we feel the government is walking a fine line in a good economy with not preparing for a rainy day as the debt to GDP ratio continues to rise.91Ƶ

READ MORE: 91ƵThe NDP of the 91Ƶ90s is back91Ƶ: Kelowna-Lake Country MLA voices concerns over 2020 budget

READ MORE: Budget 2020: B.C. Liberals blast 91ƵNetflix tax,91Ƶ lack of economic plan



michael.rodriguez@kelownacapnews.com

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