GVBOT Member Survey shows business community anxious about minority government situation
For Immediate Release
June 26, 2017
VANCOUVER, B.C. — The Greater Vancouver Board of Trade has released a subset of results from its first post-election Member Survey, which found that businesses across the Lower Mainland are anxious about the province’s economic future given the uncertain political situation in Victoria.
In the survey, Board of Trade Members were asked a variety of questions about the election results and how their business may be affected. One of the key questions asked Members, “Following the election results, are you more or less confident in the future of B.C.’s economy?” More than three-quarters of respondents (76 per cent) said they are less confident.
“We see this as a clear indication that the business community does not like uncertainty,” said Iain Black, President and CEO of the Greater Vancouver Board of Trade. “This is not necessarily a reflection of any of the parties involved, but rather, the murky waters that we currently find ourselves in. Minority governments are historically very unstable, with an average lifespan of only 18 months. That lack of stability makes business owners and investors very apprehensive.”
“These survey results are troubling because they give us a glimpse into the minds of business owners and executives in B.C.,” adds Black. “If they’re uncertain about our province’s future, that could influence their decisions about future business investment, hiring staff, and other matters that affect our overall economy.”
The Board of Trade also asked its Members to identify the most pressing issues facing the new provincial government. Housing affordability topped the list, identified by 40 per cent of respondents, followed closely by the need to invest in public transit as well as broader transportation infrastructure, such as roads, bridges and highways.
Other key priorities included tax competitiveness (28 per cent), jobs and employment (28 per cent), supporting B.C.’s energy sector (24 per cent), and health care (20 per cent).
The survey was the latest stage in the Greater Vancouver Board of Trade’s Provincial Election Engagement Strategy, which also included a pre-election survey, events with all three party leaders, the release of a GVBOT Election Platform, and the launch of an online Election Dashboard.
About the Greater Vancouver Board of Trade:
Since its inception in 1887, the Greater Vancouver Board of Trade has been recognized as Pacific Canada’s leading business association, engaging members to impact public policy at all levels of government and to succeed and prosper in the global economy. With a Membership whose employees comprise one-third of B.C.’s workforce, we are the largest business association between Victoria and Toronto. We leverage this collective strength, facilitating networking opportunities, and providing professional development through four unique Signature Programs. In addition, we operate one of the largest events programs in the country, providing a platform for national and international thought leaders to enlighten B.C.’s business leaders.