BC Chamber welcomes federal investments

VANCOUVER — Though wary of the ramifications of the continued federal deficit, the BC Chamber welcomes the federal government’s investments into technology and innovation, clean energy and skills training.

Most notably, the BC Chamber is pleased to see an investment into the National Trade Corridors Fund to address urgent capacity constraints and freight bottlenecks at marine ports in British Columbia.

“The investment into the National Trade Corridors Fund is absolutely critical to expanding Canada's trade with Asia and we’re heartened to see the federal government putting a focus on increasing capacity for international trade,” said BC Chamber president and CEO Val Litwin.

“That said, a $2-billion investment over 11 years is a drop in the ocean in terms of what we need to ensure we are trade-ready, and we would like to see more investment into trade-enabling infrastructure that is so vital to driving economic growth and improving Canada’s GDP.”

The BC Chamber is encouraged to see investment into public transit infrastructure, specifically $2.2 billion into lower mainland transit projects, which ultimately benefit the whole province by efficiently moving people through the lower mainland into the surrounding regions and beyond.

“Many of the investments highlighted in this budget were a reallocation, repurposing or consolidation of funds and there is very little in new spending, which is a consequence of the federal government running a $28 billion deficit,” said Litwin.

“We are also concerned that there is no clear path for the federal government to get to balancing the books, unlike here in B.C. where we recently applauded the Province for tabling its fifth consecutive balanced budget,”specifically $2.2 billion into lower mainland transit projects, which ultimately benefit the whole province by efficiently moving people through the lower mainland into the surrounding regions and beyond.