Minister of Finance Carole James. (Photo: THE CANADIAN PRESS/Chad Hipolito)

Minister of Finance Carole James. (Photo: THE CANADIAN PRESS/Chad Hipolito)

Finance Minister Carole James ‘optimistic’ about B.C.’s economic recovery

James noted more than 300,000 jobs lost in B.C. to the pandemic

Provincial Finance Minister Carole James says it “feels like a lifetime” since she tabled the 2020 provincial budget in February, just four months ago.

She observed the economy had already been slowing down, with “moderation” in economic growth across the globe, and so took that into account in building the budget.

“We made sure we had a strong, resilient economic foundation to be able to build from,” James said. “We certainly knew there were going to be challenges ahead, when it came to moderation, but I don’t think any of us could imagine the kind of situation that we’re all living through now.

“This is unlike any challenge that we’ve faced,” James said. “COVID-19 has impacted every sector, every family, every community, every part of our community.”

“When we’re talking about businesses being hit, that’s individuals and families as well, not only the business owners but in fact the employees.”

James noted that more than 300,000 jobs have been lost in British Columbia because of the pandemic.

She was the guest speaker in a Surrey Board of Trade “digital town hall” via Zoom. Monday’s topic was “COVID-19: Relief, Restart and Recovery for Surrey and B.C.”

The finance minister said while she knows people are “keen” to get back to work, “we need to do that in a very planned, and a very careful, and a very measured approach.”

“We don’t want to get ahead of ourselves,” she said.

READ ALSO: B.C.’s justice system in ‘triage,’ attorney general says

READ ALSO: Surrey panel tackles re-opening for business in the wake of COVID-19

James said $1.5 billion of B.C.’s $5 billion COVID plan has been earmarked for economic recovery. “Once again, I think it’s critical to note that we did that from the start.”

“That’s one-time money,” she said. “We will be gathering the feedback, as we are doing now, through ministries meeting with their sectors, through the premiers table and through other areas. Individual business ideas have been coming forward as well. We’ll be making a determination around where those dollars can best be used.

James said while she “doesn’t want to pre-determine any processes,” she expects education will be “a big discussion” when it comes to how that money will be allocated.

“Do we look at further training, and skills training for the kinds of youth who are having to re-tool for new kinds of jobs, perhaps, or new industries?”

James said the government is tracking the impact the pandemic has had on particular sectors and age groups. For example, Stats Canada released employment-related figures last week, she noted, that show “the youth are particularly impacted, particularly facing challenges, 18 to 24-year-olds. And that’s no surprise when you look at the sectors that are most impacted – retail, restaurants, bars.”

On rent assistance for business owners, she said, last week the government brought in an emergency order to ensure that if a business is able to apply for the program and fit the criteria, but their landlord isn’t interested in applying, there will not be an eviction. “And that will stay in place as long as the federal program is in place and the emergency order’s in place.”

The provincial government also brought in a $1,000 emergency benefit for workers and in July it will “boost” the climate action tax credit. “We’re increasing that payment.”

“We’ve deferred everything from the employers health tax to the PST to the hotel tax, to the carbon tax,” James said. “We also cut property taxes. The school portion, which id the provincial portion of property taxes, we have cut by on the average about 20 per cent, which again gives that immediate relief.”

She said that while we have a “challenge” ahead, “I do feel optimistic about our recovery.”

James said the largest capital budget in B.C.’s history is contained in Budget 2020.

“So we have built in there the kind of infrastructure that also will assist as we look ahead, in to creating jobs. We have a large amount of infrastructure, for everything from hospitals to roads to bridges to transit, and that is in every corner of British Columbia, which will again provide us with a very good base to be able to provide that infrastructure spending and get those jobs going in British Columbia as well,” she said.

“We’re not leaving people behind.”



tom.zytaruk@surreynowleader.com

Like us on Facebook and follow Tom on Twitter

CoronavirusSurrey

Just Posted

By protesting uninvited in First Nations’ territories, conservationists are acting in a neocolonial or paternalistic manner, says Huu-ay-aht Chief Robert Dennis. Photo by Heather Thomson
A closer look: do Vancouver Island First Nations support the war in the woods?

First Nations/environmentalist old growth alliance uneasy, if it exists at all

Victoria police continue to look for missing man Tyrone Goertzen and are once again asking for the public’s assistance in locating him. (Photo courtesy of VicPD)
Victoria police put out another call for help finding missing man

Tyrone Goertzen, 33, was first reported missing June 4

Rachel Rivera (left) and Claire Ouchi are a dynamic art duo known as the WKNDRS. The two painted the new road mural at Uptown. (Megan Atkins-Baker/News Staff)
Artistic mural at Uptown brings creativity, fun to summer shoppers in Saanich

Road installation the largest of its kind in Greater Victoria

Kathy and Doug LaFortune stand next to the new welcome pole now gracing the front entrance of KELSET Elementary School in North Saanich. LaFortune completed the piece after suffering a stroke with the help of his wife and son Bear. (Wolf Depner/News Staff)
KELSET school in North Saanich unveils welcome pole on National Indigenous Peoples Day

Carver Doug LaFortune completed pole with the help of his son, wife after suffering a stroke

Colwood council is looking at potential summer weekend closures to traffic of a section of Ocean Boulevard at Esquimalt Lagoon, to allow for more of a park-like setting during summer events such as the popular Eats & Beats event, shown here in 2018. (Black Press Media file photo)
Mayor lobbying for summer weekend closures of beachfront Colwood roadway

Rob Martin to bring motion forward to June 28 council meeting

The border crossing into the United States is seen during the COVID-19 pandemic in Lacolle, Que. on February 12, 2021. THE CANADIAN PRESS/Paul Chiasson
VIDEO: Border quarantine to soon lift for fully vaccinated Canadians

Eligible travellers must still take multiple COVID-19 tests

Chilliwack secondary school’s principal is apologizing after a quote equating graduation with the end of slavery in the U.S. was included in the 2020-2021 yearbook. (Screenshot from submitted SnapChat)
B.C. student’s yearbook quote equates grad to end of slavery; principal cites editing error

Black former student ‘disgusted’ as CSS principal apologizes for what is called an editing error

Skeena MLA Ellis Ross. (Photo by Peter Versteege)
BC Liberal leadership candidate condemns ‘senseless violence’ of Okanagan church fires

Skeena MLA Ellis Ross says reconciliation isn’t about revenge for past tragedies

A coroner’s inquest will be taking place at the Capitol Theatre in Port Alberni for the next week. (ELENA RARDON / ALBERNI VALLEY NEWS)
Teen B.C. mom who died following police custody recalled as ‘friend to many’

Police sent Jocelyn George to hospital after intoxication had gone ‘beyond the realm’ of normal detox

FILE - In this Nov. 29, 2020, file photo, Las Vegas Raiders defensive end Carl Nassib leaves the field after an NFL football game against the Atlanta Falcons in Atlanta. Nassib on Monday, June 21, 2021, became the first active NFL player to come out as gay. Nassib announced the news on Instagram, saying he was not doing it for the attention but because “I just think that representation and visibility are so important.” (AP Photo/John Bazemore, File)
Nassib becomes first active NFL player to come out as gay

More than a dozen NFL players have come out as gay after their careers were over

Penticton Indian Band Chief Greg Gabriel speaks to the Sacred Hearts Catholic Church burning down early Monday morning, June 21, 2021. (Monique Tamminga Western News)
Penticton band chief condemns suspicious burning of 2 Catholic churches

Both Catholic church fires are deemed suspicious, says RCMP

COVID-19 daily cases reported to B.C. public health, seven-day moving average to June 17, 2021. (B.C. Centre for Disease Control)
B.C.’s COVID-19 infections drop to 90 on Sunday, 45 Monday

Pandemic spread dwindles as 77% of adults receive vaccine

Emergency vehicles are parked outside of the Wintergreen Apartments on Fourth Avenue. (SUSAN QUINN / Alberni Valley News)
Port Alberni RCMP investigate stabbing on Fourth Avenue

Two men were found with ‘significant’ injuries near Wintergreen Apartments

A blood drive in support of 1-year-old Rielynn Gormley of Agassiz is scheduled for Monday, June 28 at Tzeachten First Nation Community Hall in Chilliwack. Rielynn lives with type 3 von Willebrand disease, which makes it difficult for her to stop bleeding. (Screenshot/Canadian Blood Services)
Upcoming blood drive in honour of Fraser Valley toddler with rare blood condition

The Gormley family has organized a blood drive in Chilliwack on June 28

Most Read