Trade, Productivity & Competitiveness
BC’s ability to adapt to a rapidly changing world economy will depend on how well we can find new ways of doing business, adopt new ideas and practices, and connect with new trading partners. The Council encourages public policies that support research and innovation, business practices that increase productivity, connections that open new trading opportunities, and processes to commercialize BC’s best research.
A closer look at U.S. corporate and government balance sheets
The U.S. Federal Reserve expressed concern about historically high levels of corporate debt.
Bold, long-term transportation vision required
This week’s Massey Tunnel report released by the Provincial Government is the latest reminder, over the last number of years, that we desperately need a smart, consolidated and province-wide transportation strategy that secures our future.
Finlayson Op-Ed: Canada continuing to lose ground in global competitiveness (Business in Vancouver)
In 2018, the penny dropped on Canada’s diminished attractiveness for new business investment.
The past year saw a chorus of voices across the business community urging governments to recognize Canada’s faltering competitiveness, amid near-record capital outflows, sagging domestic equity markets and punishing price discounts for the country’s No. 1 export product: Western Canadian oil.
Finlayson & Peacock Column: LNG Canada atop lists of stories affecting B.C. 2018 economy (Business in Vancouver)
In an environment of rapid economic and political change, further compounded by activist governments at both the federal and provincial levels, identifying 2018’s most significant stories affecting the provincial economy is challenging. Below we take a stab at the task, focusing on developments that we judge to be of particular relevance to B.C.
BCBC Statement on CleanBC
Tools within the CleanBC plan support the Low-Carbon Industrial Strategy and begin to position B.C. businesses and the province to be a supplier of choice for international markets seeking lower-carbon intensive energy, commodities and other inputs for their expanding economies.
SUBMISSION: Port modernization review
The Business Council's comments on the Government of Canada's Port Modernization Review
The sad tale of Canadian exports
The hard reality is that, apart from oil and bits and pieces of agri-food, Canada has been losing market share, both globally and within North America, across almost the entire spectrum of traded goods, including virtually all manufactured products as well as high technology, minerals/metals, and pulp and paper, among many others.
Finlayson & Peacock Op-Ed: Natural gas lifts B.C. economy as housing’s contribution slows (Business in Vancouver)
The B.C. economy grew by a surprisingly robust 3.8% (after inflation) last year. This is surprising because not only does it follow a strong 3.2% expansion in 2016, but it also marks another year when the province grew at a pace above its long-run potential.
Some observers may be taken slightly aback that B.C. managed to achieve such an impressive growth rate amid an unsettled global backdrop and the early stages of a slowdown in the province’s normally busy residential housing complex.
RESEARCH PAPER: Productivity and living standards in Canada and British Columbia
A paper prepared for the 2018 B.C. Business Summit
Guest author: The future of decision making
How important is it for businesses to make better decisions?
Which countries gain the most by employing "golden age" workers?
As populations age, countries will have to rely more heavily on productivity growth and increased labour force participation from underrepresented groups to maintain living standards and provide tax revenues to pay for public services.
RELEASE: B.C. economy continues to post solid growth
Amid solid global growth and a booming U.S. economy, the British Columbia economy is in good shape and will continue to grow at a respectable, albeit more moderate, pace over the next two years. B.C.’s real GDP growth is expected to be in the 2.2% to 2.5% range for 2018 and 2019.
The end of money for nothing
The latest edition of the BC Economic Review and Outlooks examines the impact rising interest rates are having on the BC economy.
West coast wonders: B.C. & Washington cross border synergies and connections
Along with strong trade linkages, B.C. and Washington share many similarities.
Release: LNG Canada investment marks a clean start for economic growth
BCBC today welcomes the LNG Canada joint venture participants’ final investment decision to build an LNG export facility in Kitimat, B.C.
Energy production, consumption and trade: How Canada and B.C. stack up
If British Columbia or Canada ceased to exist tomorrow, the greenhouse gas emissions eliminated from energy production and consumption relative to the global total would be equivalent to a rounding error.
Finlayson Op-Ed: 'Clean growth' is a nice idea, but policymakers shouldn't forget what really makes B.C. money (The Province)
Policymakers in Victoria have a lot more work to do if they are interested in strengthening the province’s export economy.
The provincial NDP government has pledged to develop a “clean growth strategy” to position the province for continued prosperity in a world where demand is increasing for products and technologies that reduce the impact of human activity on the environment. With a carbon-free electricity system and an array of local companies in the “clean tech” space, B.C. has some of the ingredients necessary for clean growth. But amid their enthusiasm for developing new industries, policymakers also need to pay close attention to the industries that pay the bills today.
Canadian, US business leaders announce joint framework for cross-border growth
Today, the Cascadia Innovation Corridor announced the formation of a binational steering committee composed of the region’s top business, research and community leaders. The Committee marks a step forward in growing the Cascadia Innovation Corridor into a cohesive, globally recognized hub of innovation and commerce.
Statement from BCBC regarding Federal Court of Appeal ruling
The Business Council of British Columbia has released the following statement from President and Chief Executive Officer, Greg D’Avignon regarding this week’s ruling by the Federal Court of Appeal
Finlayson & Peacock op-ed: Growing tax burden hurts B.C. business competitiveness (Business in Vancouver)
In many sectors of our economy, the cost of operating a business has risen significantly over the past several years due to provincial government policy decisions. For a typical business, the most visible government-driven cost increases have come via higher (and in some cases new) taxes and fees. Below we briefly discuss the most salient examples.