The Surrey Board of Trade has expressed significant concerns regarding Metro Vancouver’s proposed 2025 budget, emphasizing the need for affordability, transparency, and stakeholder engagement. Building on the 2024 budget, which saw the average cost per household for Metro Vancouver services set at $698 per year, the 2025 budget proposes a further increase, raising the average cost to $774 annually.
“While we understand the importance of maintaining and upgrading our region’s essential infrastructure, the cumulative effect of annual rate increases is placing an undue financial burden on both businesses and households,” said Anita Huberman, President & CEO, Surrey Board of Trade. “Affordability must remain a top priority, especially for small and medium-sized enterprises that are the backbone of our local economy.”
RECOMMENDATIONS
Based on our analysis of the 2025 budget proposal, the Surrey Board of Trade offers the following recommendations:
1. Maintain Affordability: Metro Vancouver should prioritize affordability by carefully considering the cumulative impact of rate increases. Strategies to mitigate financial strain on businesses and households should be explored.
2. Maximize External Funding: Efforts to secure additional funding from government grants, development contributions, and other sources should be intensified. Reducing reliance on ratepayer contributions will help manage costs more effectively.
3. Engage with Stakeholders: Metro Vancouver should ensure that stakeholders have sufficient opportunity to review and comment on the proposed budget figures before they are approved. Transparent and inclusive stakeholder engagement is essential for a budget that truly reflects community needs.
4. Streamline Regulatory Processes: Ongoing consultation with the business community is essential to ensure that regulatory processes are efficient and conducive to economic growth. Metro Vancouver should continue to work collaboratively with businesses to achieve a balanced regulatory environment.
5. Monitor the Economic Impact: Metro Vancouver should closely monitor the economic impact of rate increases on the community and be prepared to adjust them as needed to avoid significant financial hardship.
The proposed budget includes significant investments in infrastructure, such as the North Shore Wastewater Treatment Plant Program, which could add an additional $80 to $150 per household. The Surrey Board of Trade is calling on Metro Vancouver to explore alternative funding sources, including government grants and development contributions, to reduce reliance on ratepayers.
The Surrey Board of Trade remains committed to working with Metro Vancouver and other regional authorities to ensure that budgetary decisions benefit all stakeholders in the region.
Read the Surrey Board of Trade’s full response here.
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Anita Huberman, 604-634-0342, anita@businessinsurrey.com
