May 25, 2023
Victoria, B.C. – In response to the recent report by the Greater Vancouver Board of Trade, which highlights an estimated additional cost of $6.5 billion on B.C. businesses due to government taxes and programs, Sonia Furstenau, Leader of the B.C. Greens and MLA for Cowichan Valley, is once again pushing for reform of the Employer Health Tax (EHT).
“As financial pressure on B.C. businesses continues to grow and our province faces multiple challenges, including rising inflation and labor shortages, small and medium-sized businesses are feeling the weight of these economic strains,” said Furstenau.
“By reforming the EHT and alleviating the financial burden on small and medium-sized businesses, we can foster an environment of sustainability, innovation, and prosperity.”
At present, businesses are grappling with increasing costs, including the recent hike in federal Canada Pension Plan (CPP) and Employment Insurance (EI) rates for 2023. By raising the EHT exemption to $1.5 million, B.C. can offer much-needed financial relief to small and medium-sized businesses, enabling them to save thousands of dollars annually.
“In an era where every penny counts, this relief can make a substantial difference in the ability for businesses to not only survive but also thrive,” continued Furstenau.
“Small and medium-sized businesses are the backbone of the economy, contributing to the vibrancy and resilience of our communities. It is the government’s responsibility to create a supportive environment for their success, equipping them with the tools and conditions to navigate these challenging times.”
The B.C. Green Caucus is committed to advocating for the interests of small and medium-sized businesses and implementing policies that not only promote their resilience, sustainability, and overall contribution to our province’s economic fabric, but also ensure that they have the conditions to thrive in B.C.
B.C. Green Caucus
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