We begin the new year at a time of extraordinary economic challenge and uncertainty—not only in 小蓝视频, but throughout Canada and around the world.
We face ongoing challenges with supply chain disruptions and labour shortages. Global inflation has driven up costs on every level to businesses and families, on everything from infrastructure and construction to energy stocks and food prices. Climate change disasters threaten whole communities. War and increasing international polarization threaten prosperity across the globe.
And of course, Canadians and British Columbians are facing unprecedented and unjustified threats to our export sector from the incoming administration in the U.S.
This is a critical moment for British Columbia, and we will respond with strength and leadership. We are working with other provinces, industry groups and labour unions to tackle the potential harm of U.S. tariffs under the Trump administration—something that would threaten workers, businesses and the economy on both sides of the border.
Our approach to defending our economy from this threat is three-fold.
First, to work with governments across the country on a united strategy to fight back, including retaliatory tariffs and export bans. Second, continuing our work to strengthen and diversify our trading and political relationships so that we’re less reliant on U.S. markets. And finally, to adapt our domestic economy, by speeding up permitting approvals, increasing manufacturing opportunities from our resources, expanding our energy production to attract capital, supporting strong tech and life sciences growth, among other initiatives.
I’m asking every member of our team to identify ways to cut red tape and unnecessary bureaucratic processes that are holding back economic growth. We’ve already made good progress in housing, where we’ve broken down barriers to kick-start the construction of middle-class homes. And in mining we’ve reduced major project review timelines by over 35 per cent. Now we must accelerate that work while applying those lessons to other sectors—like forestry, natural gas and agriculture—which are foundational to our success as a province.
Despite the many challenges the world is facing, 小蓝视频 is fortunate to have everything we need to succeed in a changing world.
British Columbia has a strong and diversified economy less exposed to the U.S. than other provinces. We have abundant low-carbon natural resources that the world needs, like clean energy to power a growing economy and critical minerals that are crucial to new technologies. We are a reliable gateway to existing and emerging markets in the Asia Pacific region. And 小蓝视频 has a stable and secure business climate, which has been essential to helping us attract 73 per cent more private capital investment than seven years ago.
Through turbulent times, 小蓝视频’s economy has performed well.
We’ve created 250,000 jobs in the last seven years, with the strongest hourly wage growth in the country. Last year we had the largest GDP growth among provinces and one of the lowest unemployment rates. Our debt-to-GDP ratio is less than half of Ontario’s or Quebec’s and we have the highest credit rating of any province.
But British Columbians deserve more—there is so much we need to do to secure a brighter future. Now is the time to build up British Columbia. By investing in infrastructure and building more homes, attracting investments like film productions and mines that support thousands of jobs, and collaborating with the private sector on critical projects like Vancouver’s waterfront rejuvenation that will help drive tourism.
Growing our economy is essential to generating the wealth needed to deliver results on the key challenges British Columbians are worried about at their kitchen tables—from helping families with costs to strengthening health care so that it is there when and where you need it.
We can’t pour from an empty cup.
That’s why our government is committed to working with business to unlock 小蓝视频’s potential and create the conditions for strong economic growth that makes us all stronger. Because when 小蓝视频 businesses succeed, 小蓝视频 succeeds—ensuring that all British Columbians can get ahead, and no one gets left behind.
David Eby is premier of British Columbia.
