The Greater Vernon Chamber of Commerce is giving high marks to the provincial government for tabling a balanced budget and providing some tax relief to small business.
The budget focuses on paying down the operating debt while phasing out the provincial sales tax.
“The Provincial government has been practicing great business fundamentals – balancing budgets and investing in a more diversified economy – and this means they can now pursue other investments and continue to create a competitive tax structure that gives businesses the choice to invest and grow,” said Dauna Kennedy Grant, Greater Vernon Chamber president.
“We were also pleased to see a commitment of funding for the expansion of post-secondary facilities across the province including confirmation of the funding for the trades training facility at the Vernon campus of Okanagan College.”
Other measures in the budget are also garnering praise.
“Further investment in the Rural Dividend Program will help to strengthen and diversify rural economies and assist the smaller communities around the Greater Vernon area,” said Dan Rogers, chamber manager.
“It was also good to see the province increase the threshold for the first time homebuyers’ exemption to $500,000 saving first time home buyers up to $8,000 in property transfer tax, something that should help encourage more young families to invest in housing in the area.”
