BC BUDGET Needed to Commit to a BC Tax Review

– Finance Minister to Speak at Digital Event to Surrey Businesses on BC Budget on February 25 at 1:30pm

Today, the Surrey Board of Trade’s Policy & Research Manager, Jasroop Gosal, was in Victoria at the BC Budget lock up this morning to hear the BC Government release their 2022 Budget and Three-Year Fiscal Plan before it was released to the public.


“When examining the overall debt to GDP ratio, BC is still better off than other provinces and territories affected by the pandemic,” said Anita Huberman, President & CEO, Surrey Board of Trade. “However, we need to ensure that supply chains are fortified, that infrastructure investments are made now to create sustainable jobs, and that any transportation planning that takes effect in the next 3-4 years continues and is enhanced. Today’s BC Budget did not commit to a review of BC’s tax system, which is long overdue.”

New Taxes
Companies that lease goods, services and software online will now pay the PST on those leases.

We were especially disappointed with the lack of post-secondary investments in Surrey. Education, in addition to transportation, is the foundation of driving an economy. Today and tomorrow’s workforce challenges need commitments to innovative post-secondary investments in Surrey and the South Fraser economic region.

We observed that the provincial debt is forecasted to increase to $90.8 billion at the end of 2024/25.

Surrey Langley Skytrain
·       Is there a dollar amount assigned? Not included in the budget, only when the business case is finalized.  Commitment is still there.

·       What is in there now is $589.5M over next 3 years for early road works

·       Business case finalized this year

New Surrey Hospital
·       The plan is 168 new beds, comparable to community hospitals but not to Surrey Memorial Hospital – this increased capacity is not enough for Surrey’s needs.

·       There is potential for expansion further down the road, and also expansion of Surrey Memorial Hospital.

·       Currently, the project is called the ‘New Surrey Hospital’ but hospital name will be determined during Surrey Hospitals Foundation and BC Cancer Foundation fundraising campaigns, potentially being named by a donor.

·       A 50% fee reduction for full-day infant and toddler care by the end of 2022 – will this be for not-for-profit childcare providers, public, or private sector?