Photo courtesy of the Greater Vernon Chamber

By Liam Verster

Pros and Cons

Vernon Chamber mixed on federal budget

Mar 29, 2023 | 1:28 PM

The Greater Vernon Chamber of Commerce sees some positives and negatives in the 2023 federal budget.

In a news release, the local business organization stated there was “some good news for entrepreneurs” provided in the financial plan.

“While specific details are still to come, the budget document contains a number of items that will have a positive impact on the business environment in the North Okanagan and across the country,” Dan Proulx, Greater Vernon Chamber general manager, said.

“We are pleased to see that the government has negotiated lower credit card fees paid by small business on an average of 27 per cent less, while we welcome movement towards a national supply chain strategy and addressing interprovincial trade barriers. Additional funding for tourism will also be beneficial in a region such as ours that is reliant on the tourism sector.”

However, the Chamber did criticize a “lack of vision” for economic growth in the budget that was presented in the House of Commons Tuesday, March 28.

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“The government is forecasting gross domestic product growth of 0.3 per cent in 2023, and Canadians require a solid vision that will add vitality to our economy and create employment opportunities,” Proulx said.

The Chamber also noted a number of other concerns including a lack of focus on increasing housing construction; the three per cent digital services tax’s impact on business; the Air Travel Security Charge downloading costs to travellers and inadvertently impacting the local tourism sector; and the alcohol excise tax being capped at two per cent for just one year, stating Canada needs to align taxes with the U.S. “to encourage expansion of distilleries, cideries, wineries and breweries that strengthen tourism and agriculture.”

As of time of publication, the Chamber had not responded to Vernon Matters’ request for further comment on what steps will be taken to address the aforementioned issues in relation to the local economy.