For Immediate Release
September 17, 2020
VANCOUVER, B.C. — Today, the provincial government unveiled its Economic Recovery Plan. In response, the Greater Vancouver Board of Trade released the following statement:
"COVID-19 has had a devastating economic impact on our province and with considerable uncertainty ahead, the road to British Columbia's recovery will be long," said Bridgitte Anderson President and CEO of the Greater Vancouver Board of Trade.
"The Economic Recovery Plan unveiled today represents a step on that journey. We are pleased to see many of our recommendations were included within the Province's announcement, especially the PST rebate on machinery and equipment. We are also pleased to see continued investments in broadband infrastructure, health and child care, alongside investments to help businesses anchor talent and IP here in B.C.
We eagerly await additional details on how SMEs will be able to access the new payroll tax credit and Small Business Recovery Grant, as well as who will be eligible to access them. These decisions will be vital to ensure that funds flow quickly to businesses who need immediate support to survive.
Since February, more than 8,000 businesses have been lost in Metro Vancouver as a result of COVID-19 and many more are worried about their future as we face a second wave of economic impacts. Travel and tourism industries remain hard hit and will continue to suffer as we move into the fall and winter.
With cases continuing to rise at a record rate, the seriousness of the challenge that faces us cannot be underestimated. It's vital that we approach the economic impacts of COVID-19 with the same intensity as we have the virus itself as bold action will be required to boost business confidence and restore the private sector."
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.