Ep. 573: The 3% GDP Challenge
Guest: Bridgitte Anderson (Greater Vancouver Board of Trade)
“Whether it’s the rising cost of housing, unaffordable grocery bills, or an increasingly heavy tax burden, too many British Columbians feel the economy is not working for them,” says Bridgitte Anderson, the CEO and President of the Greater Vancouver Board of Trade. Earlier this year as the threat of American tariffs loomed, the Board called on the provincial government to focus on growing the British Columbia economy by 3 percent.
“To build a future worthy of our aspirations and one we can be proud to pass on to the next generation, British Columbia must pursue policies that will boost our economic growth and raise our collective standard of living,” says Anderson. The Board projects that by growing the provincial GDP by 3 percent, the economy will grow, government revenues will increase, and the standard of living for all British Columbia residents will improve.
Anderson says, “We project that a boost of 3 percent will raise personal GDP by $9,000 and will add an additional $4.0 billion dollars to government revenues by 2030.” The challenge comes at a time when the provincial debt and deficit are at all-time highs. The province optimistically projects GDP growth of 1.8 percent, a figure that TD Economics challenges. TD projects a 1.5 percent growth for this year and falling to 1.3 percent next year.
We invited Bridgitte Anderson of the Greater Vancouver Board of Trade to join us for a Conversation That Matters about the “Challenge” – the challenges and the opportunities to grow BC’s economy.
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