 |
|
|
VICTORIA – Government’s efforts to grow B.C.’s economy have resulted in provincial economic performance that outpaces the national average for the first time in seven years, said John Les, Minister of Small Business and Economic Development.
“Three years ago, we set out to rebuild the economy, and we are now seeing the results,” said Les. “Not only are we outperforming the national average; we are enjoying record-high optimism among our small- and medium-sized businesses.”
Les’s comments follow the release of Scotiabank’s Group Provincial Pulse report, which predicts B.C.’s economy will continue to outperform the national economy over the next two years. Scotiabank Group cites provincial efforts to reduce and modernize regulations for business as key factors in the improved performance. The report also reaffirms that B.C. is on track to balance its books in 2004-05, and indicates consumer confidence in the first quarter of 2004 climbed to its highest level in six-and-a-half years.
“Since June 2001, we have eliminated 113,400 regulatory requirements,” said Les. “Moving forward, we will continue to protect public health, safety and the environment through a smart regulatory environment that is results-based, more efficient and more flexible.”
Earlier this week, the Canadian Federation of Independent Business released its Quarterly Business Barometer Index, which showed B.C. with a record-high index of 118.2, topping the national average of 106.4. The report reflects how well business owners expect their firms to perform in the next 12 months. For the third consecutive quarter, optimism among B.C. small-business owners is the highest in the country. Optimism is at a record high this quarter and strong across all business sectors.
“A year ago today, British Columbia was awarded the 2010 Winter Games,” said Les. “The confidence and optimism that won us the Games is now being reflected in recent economic news. This shows that the province is back on track and continues to surge ahead as a national leader. As we get closer to 2010, we expect more good news for British Columbia.”
-30-
| ||||||||||||
