Yesterday afternoon, British Columbia’s Lieutenant Governor, Wendy Cocchia, delivered the Speech from the Throne, outlining the provincial government’s priorities amid economic uncertainties. The speech emphasized a unified response to potential U.S. tariffs, highlighting the need for resilience and self-reliance.
Premier David Eby expressed confidence in the province’s ability to navigate these challenges, stating, “We have everything we need to protect ourselves from the economic impacts of the Trump presidency and come out stronger.”
British Columbia’s key strategies are to: strengthen and grow the economy, diversify trade relationships, and respond “firmly and forcefully” to external aggression.
Key initiatives include expediting 18 major projects across natural gas, clean energy, critical minerals, and mining sectors, collectively valued at $20 billion. These projects aim to create over 8,000 jobs, particularly benefiting northern and rural communities. Importantly, these initiatives represent significant First Nations ownership and participation.
The government also plans to diversify trade relationships by strengthening ties with Asian and European markets and removing interprovincial trade barriers. This strategy seeks to reduce reliance on the U.S. market, which accounted for 54% of B.C.’s exports in 2023.
In addition, there will be a continuing focus on kitchen-table priorities such as housing, infrastructure and trades education. Over the past seven years, the government says there have been 250,000 jobs created, and B.C. has the highest hourly wage growth in the country. The B.C. Homes for People program aims to build 300,000 new middle-class homes over the next 10 years.
Legislation to be introduced in this session includes protection from credit card fraud, unfair cellphone practices, penalizing house-flipping, and increasing police officers, probation officers and prosecutors. Health care will see an increase in doctors and nurses and new hospitals and clinics.
Clearly, this government is focused on building up British Columbia’s internal strengths to meet external challenges. Opportunities to open new businesses and expand existing ones will be available and supported by faster approvals and reduced regulation.
It is a good time to consider how industry can emphasize growth in BC. The Speech from the Throne outlines a comprehensive approach to bolster B.C.’s economic security through strategic projects, diversified trade, and a unified provincial stance against external economic pressures.
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For more information and insights about what these developments mean for the political landscape in British Columbia, please reach out to our experts:
Richard Feehan – Senior Strategy Advisor
feehan@prairieskystrategy.ca
780.940.8956
Bronte Prosser – Strategy Advisor
bronte@prairieskystrategy.ca
306.270.7405
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