Report on the Budget 2023 Consultation

The provincial government has released its Report on the Budget 2023 Consultation, including recommendations presented by the Burnaby Board of Trade to address challenges small and medium-sized businesses continue to face.

Burnaby Board of Trade CEO Paul Holden presented to the Finance Committee and recommended that:

  • The Provincial Government, in concert with the Federal Government developed and identify specific strategies and actions to support the bio-manufacturing supply chain in BC, through investments in organizations and businesses which can produce the necessary components required for domestic manufacturing of testing supplies, vaccines, and medical therapeutics.
  • The Provincial Government, in concert with the Federal Government developed and identify specific strategies and actions to support the bio-manufacturing supply chain in BC, through investments in organizations and businesses which can produce the necessary components required for domestic manufacturing of testing supplies, vaccines, and medical therapeutics.

  • The Provincial Government work with BC Assessment and municipal governments to address soaring, inequitable property taxes on businesses by creating a new commercial sub-classification that would separate a commercial property’s current-use value from the value of its redevelopment potential, and empower municipalities to apply a different, lower mill rate to that redevelopment value for the purposes of levying property taxes.

With 216 recommendations overall, the report outlines actions the government should take in the next provincial budget on a wide range of issues, including the skilled labour shortage, employer health tax, sales tax, tax thresholds, incentivizing clean energy, and addressing cost pressures for businesses, homebuyers, and consumers.