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BC Budget 2024: Some relief on the cost of doing business, high debt for future generations

Abbotsford Chamber’s 2024 Provincial Budget Statement (768 x 320 px)

For Immediate Release

ABBOTSFORD, B.C., - February 22nd, 2024

On behalf of the hundreds of business members, the Abbotsford Chamber of Commerce is raising concern over the high level of spending in the new provincial budget, while recognizing some meaningful announcements around the cost of doing business.

“The Abbotsford Chamber celebrates the change to the Employer Health Tax (EHT) threshold in this budget. At a time when small businesses are struggling with the rising costs of doing business, this is a tangible way to ease some of the cost burden, however, this budget’s high spending saddles the province with an increased debt load instead that will hamper future prosperity,” said Alex Mitchell, CEO of the Abbotsford Chamber of Commerce.

“Abbotsford is one of the fasting growing communities in British Columbia, with strong economic activity. As growth continues south of the Fraser, government’s support by investing in critical infrastructure and recognizing that the Fraser Valley needs its fair share of investment dollars for post-secondary student seats and healthcare funding, would go a long way in enabling economic development.”

The Abbotsford Chamber notes some meaningful announcements that are positive for business including a modest ne-time BC Electricity Affordability Credit that will reduce electricity costs for commercial and industrial users that will be helpful for businesses of all sizes.

“We need a thriving business community creating and sustaining good paying jobs and an economic environment that attracts investment,” said Mitchell. “The Abbotsford Chamber of Commerce will therefore continue to advocate for policies that enable businesses to prosper, and our City to thrive.”

About the Abbotsford Chamber of Commerce:
The Abbotsford Chamber of Commerce has served the business community of Abbotsford with an attitude of vibrant engagement and proactive non-partisan advocacy for over 110 years. With 700 members, it is the largest Chamber in the Fraser Valley, located in the 5th largest city in the province. The Abbotsford Chamber is nationally accredited to meet standards of business excellence and provide benefits to its member organizations.

Media enquiries:

Nathalie Darwin, Communications Manager
Abbotsford Chamber of Commerce





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