The Surrey & White Rock Board of Trade (SWRBOT) welcomes the Government of British Columbia’s decision to pause the planned October 1st expansion of the Provincial Sales Tax (PST) to previously exempt professional services.
SWRBOT has consistently raised concerns about the expansion and its potential impact on businesses, investment and economic growth. In February, SWRBOT joined business organizations from across B.C. in calling on the Province to reassess the measure, highlighting the additional costs and administrative burden it would place on businesses at a time when they are already managing rising operating costs and economic uncertainty.
Professional services such as accounting, engineering, security, and commercial real estate are essential inputs for businesses, housing, infrastructure and investment. Applying a new tax to these services would have increased the cost of doing business and, in many cases, added costs throughout the broader economy. SWRBOT has also raised concerns about the impact of taxing security services at a time when businesses are already facing significant costs related to theft, vandalism, extortion, and property crime.
We appreciate the Province listening to concerns from the business community and pausing the planned PST expansion. Businesses need predictability and an environment that supports investment, growth and job creation, particularly during a period of significant trade and economic uncertainty.
Joslyn Young, CEO
SWRBOT recognizes the Province’s decision is a pause rather than a permanent cancellation of the planned expansion. We encourage the government to use this period to fully assess the economic impacts of the measure and continue engaging with businesses and industry before considering any future changes.
We will continue to advocate for a full cancellation of the planned tax expansions to promote and embolden a competitive and predictable business environment that supports investment, economic growth and affordability across Surrey, White Rock and British Columbia.
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Aman Parmar
Policy & Media Advisor
aman@swrbot.com
604.634.0345
