Photo: Cindy White

Kelowna Chamber CEO Dan Rogers

The Kelowna Chamber of Commerce says there are some things for Okanagan businesses to be happy about in the federal budget tabled Tuesday.

“It’s a budget designed to blunt the effects of 2023 inflation and the economic recession,” said Chamber CEO Dan Rogers, in a news release.

“The capping of the alcohol excise tax from 6.3% to 2% for one year, effective April 1 is good news. The government has also negotiated lower credit card fees paid by small business on an average of 27% on Visa and MasterCard payments, plus implementing some cybersecurity measures through the credit card system.”

Rogers also highlighted a renewed commitment to bring provincial and federal leaders to the table to finally address interprovincial trade barriers, “which would result in immediate gains for BC business,”

“Removing interprovincial trade barriers has been something the Kelowna Chamber has been actively advocating for,” he said.

On the negative side, Rogers said that there is no clear plan for growing the economy. RBC is forecasting the Canadian economy to grow by just 0.6% in 2023. B.C. is expected to see zero growth due to the housing market downtown.

Rogers said they are also not happy the digital services tax (3% on top of GST) is going forward.

The Kelowna Chamber is, however, happy a new national supply chain strategy is being proposed, “a step in the right direction,” the group said.

The tourism sector benefits from $108M over three years to regional development agencies plus $300M to attract international events.

The Kelowna Chamber will be hosting Associate Minister of Finance and Minister of Tourism Randy Boissonnault in Kelowna at a post-budget luncheon on Thursday April 6 at 12 p.m. at the Coast Capri.

Tickets for that event are on sale now with limited seating available.