British Columbia businesses are expected to pay billions in additional costs imposed by the provincial government over a three-year period, a report finds.
The report released by the Greater Vancouver Board of Trade (GVBOT) says it identified “significant” government-imposed costs that will chip away an additional $6.5 billion from the earnings of business owners between 2022 and 2024, after accounting for saving measures.
These costs include increases to corporate income tax, payroll tax imposed just prior to the COVID-19 pandemic, new paid sick leave, and the business portion of the escalating carbon tax, according to the report, titled “Counting the Costs: Assessing Economic Challenges for Businesses in British Columbia.”…