The Prince George Chamber of Commerce (PGCC) is satisfied with the 2017 Balanced Budget, claiming the provincial government finally showing some fiscal responsibility.
PGCC President Cindy Pohl says the chamber has been working hard to reduce MSP premiums for families and businesses alike.
“The reduction in small business tax from 2.5% to 2% means $213 million in savings by BC business over three years, which is a great thing to help small businesses succeed.”
She says this will help businesses grow and expand as they please, especially those under the chamber, and this will also allow them to put the extra cash to good use.
For the 5th year in a row, #BC tables a balanced budget, https://t.co/rqFdBGpJi0 #BCBudget pic.twitter.com/Aly2V44frK
— BC Government News (@BCGovNews) February 21, 2017
Pohl hopes the cut on corporate tax from 2.5% to 2% can benefit the hard-workers that make the business successful.
“We’d like businesses to use that money that they may have been paying out for their employees and put it towards other things for the employees, because if they don’t have to pay that, that’s where they will see the savings.”
The government is also planning to enhance sector tax credits to support innovation and commercialization.
While the provincial Liberals have been taking heat for delivering the budget months before the upcoming election, the PGCC is pleased with the decision to do so and Pohl says they’ve been expecting the budget to be announced when it was.
“Because it’s the fifth consecutive balanced budget, it makes me feel that this was the direction they were heading to anyway. It does make sense to continue on this route just for the province and for the people of the province.”
All cuts and changes will take into effect on January 1st, 2018.
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