Surrey Budget Needed an Economic Development Focus

Observations and recommendations in general:

Increased business taxes, cancel RCMP transition, improve development approvals, focus on economic development assets, art and culture investments, increase transparency, housing and transportation strategies and municipal spending.

The Surrey Board of Trade presented their observations and recommendations to the City of Surrey Finance Committee on the 2020 Surrey budget and their 5 year financial plan on

December. The Surrey Board of Trade monitors public sector spending to maximize productivity in the economy and encourage growth in the private sector and for Surrey. The City Budget is important to the Surrey Board of Trade, evaluating whether Surrey’s tax rates are conducive for business growth, retention and infrastructure investments. The Surrey budget (now approved) needed to have a sustained economic development focus, needed to cancel the RCMP transition and invest in infrastructure assets throughout Surrey to ensure Surrey is an opportunity city.

SURREY BOARD OF TRADE REVIEW:

1. BUSINESS TAX INCREASE

Business will be facing a significant, unexpected tax increase (major industry to $24.00 per $1,000 assessment; and class 6 business property tax increase of 5.5%.

2. PUBLIC SAFETY INFRASTRUCTURE

The City of Surrey should cancel the transition from the RCMP to a municipal police force.

3. DEVELOPMENT AND PERMIT APPLICATION APPROVAL DELAYS

Investments for staff support are needed to attract and support a thriving development industry.

4. ECONOMIC DEVELOPMENT

This budget needed to have a people-centric economic development lens for housing, place-based economic strategies to support investment and employment, student housing, and labour attraction. Investments in rebranding the City are needed. The slogan ‘The Future Lives Here” is outdated. Surrey is an ‘Opportunity City’ now. The future is already here.

5. ART & CULTURE INVESTMENTS:

The opportunity to invest in additional arts infrastructure (Performing Arts Centre) is missed.

6. MUNICIPAL SPENDING PER PERSON

Surrey’s spending is low per resident. However, developer fees to the City are on the rise.

7. DOWNLOADING OF COSTS TO SURREY

Need to know the downloading of costs to the

City by different levels of government.

8. HOUSING & WORKFORCE DEVELOPMENT

Need innovative protection and investment into rental housing stock.

9. RIVER INVESTMENTS

Opportunity to further invest in the Fraser River riverfront.

10. TRANSPORTATION

We need creative microtransit within Surrey to connect and develop our town centres.