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Surrey Board of Trade Applauds First Step in BC’s Economic Recovery Plan
9-30-2020
In a presentation today, BC’s Premier John Horgan, delivered the Government’s economic recovery plan called StrongerBC. BC’s total provincial response to the COVID-19 pandemic exceeds $8.25 billion.
“The Surrey Board of Trade was pleased to offer input into BC’s first stage of an economic recovery plan as part of the Premier’s Economic Recovery Task Force,” said Anita Huberman, CEO Surrey Board of Trade. “There is still so much more to do and so many economic issues to focus on. Canada’s economy saw the sharpest drop on record this past Spring, causing the most severe global downturn since the Great Depression. The economy saw the steepest decline in the second quarter. Gross domestic product fell about 13% in the first half of the year. This plan is a good first step.”
“This plan complements yesterday’s Government of Canada announcement on the next steps for the Safe Restart Agreement, which is a $19 billion funding agreement between Ottawa and the provinces and territories. The Safe Restart Agreement focuses on seven key priorities over the next six to eight months to restart the economy while protecting the health of Canadians.”
https://www.canada.ca/en/intergovernmental-affairs/services/safe-restart-agreement.html
The four priorities of the StrongerBC Plan includes:
1. Strengthening the healthcare system – Fall pandemic preparedness
a. 600 new contact tracers
b. 7,000 new frontline jobs in healthcare
c. Increased support for mental health care in the workplace
d. Hospital at home
2. Creating jobs and new opportunities
a. Investments in training for high in-demand jobs
b. $100 million in infrastructure plans to get shovels in the ground
c. $15 million upgrading skills for the Indigenous population
d. New Centre for Innovation and Clean Growth for youth
3. Helping business grow and hire
a. 15% refundable tax credit based on eligible new payroll
b. Investments of over $100 million to support tourism-related businesses and communities
c. Temporary 100% PST rebate on select machinery and equipment to make it easier for eligible businesses to make the kinds of investments that will allow them to grow and become more productive
4. Supporting strong communities
a. $400 million to revitalize community infrastructure and support local governments
b. Strong transit system – $1 billion provincial and federal investments to keep people moving (BC Transit, TransLink, BC Ferries)
c. Additional $540 million in combined federal/provincial funding to help BC communities address other local challenges impacted by COVID-19
The plan also builds on BC’s investment in public infrastructure over the next three years. Those capital projects are estimated to create 100,000 direct and indirect jobs over the life of the projects.
Full Report: https://strongerbc.gov.bc.ca/
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