How to stop B.C.’s ‘bleak’ economy falling further behind

By Douglas Todd
The Vancouver Sun
April 4, 2024
Category: Finance & Economics
Region: Canada, Canada West

B.C. now ranks a disturbing 48th out of the 60 states and provinces of North America in terms of gross domestic product per capita. The province’s economic pie is shrinking. …Urban British Columbians tend to put faith in high technology, public services and the cool film industry …But what about the resource sector? …Don Wright, who retired as head of B.C.’s civil service in 2020, believes B.C.’s economy leans too heavily on new arrivals to “buy real estate and support consumption with income earned elsewhere.” It creates the illusion of a healthy economy. But it’s not sustainable. …While forestry, mining, oil and gas, and fishing are often targeted by environmentalists, regulators and city dwellers, put far more money into tax coffers per employee. …“We’ve got to stop demonizing these industries,” says Wright. “They still have the potential to contribute disproportionately to the standard of living of British Columbians.

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