2023-2024 Provincial Budget Falls Short on Delivering for Businesses
Windsor, NS (March 21, 2023) – While Atlantic Chamber of Commerce (ACC) appreciates the investments in healthcare, education, and public safety, which are crucial to the province and local communities, ACC remains concerned with the lack of support for business in the 2023/2024 budget.
The budget features a reduction in personal income tax that will provide an estimated $70 million in tax relief. In addition to the tax relief, the Atlantic Chamber of Commerce is also pleased to see that the government has taken steps to address concerns about rising crime rates by making investments to enhance safety within communities. Despite this positive development, ACC remains concerned about the lack of meaningful support for businesses and improvement of the labour market in the budget.
“Budget 2023 falls short of expectations held by businesses” said Sheri Somerville, CEO, Atlantic Chamber of Commerce. “Reducing the cost of doing business, enhancing our labour market through immigration and skills development, and building affordable housing are all priorities for our members. This budget does not feature any new measures that will have a significant impact for businesses or economic development.”
Government and business need to work together to ensure businesses have a supportive economic environment. The overall cost of doing business is preventing the private sector from reaching its true economic potential and government has a leading role in alleviating much of that burden. The Atlantic Chamber looks forward to working with the Government of New Brunswick in the future to support businesses and grow the economy.
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About the Atlantic Chamber – The Voice of Atlantic Canadian Business
The Atlantic Chamber of Commerce (ACC) is the largest accredited business organization of influence in Atlantic Canada representing more than 16,000 businesses through its network of 90 Chambers of Commerce and Boards of Trade and corporate partners in the four Atlantic Provinces.
For more than 125 years, ACC has served as the voice of Atlantic Canadian business and actively partners with its members and other organizations to help create a strong, vibrant, and growing Atlantic Canada. ACC does this through strategic advocacy that shapes policy issues that impact business, the delivery of high-value programs and services to support business, and the facilitation and promotion of initiatives for business that contribute to sustainable economic growth in the region.
