Vancouver – While the Surrey Board of Trade and Chilliwack Chamber of Commerce are concerned about the speed in which the Province is racing towards at $15 an hour minimum wage by 2021 (actually $15.20 an hour), the BC Chamber of Commerce is cautiously optimistic that the move will be successful.
What the BC Chamber is concerned about is the fast change in any timeline that would eventually affect all business, especially small to medium size entrepreneurs.
From their website:
The BC Chamber of Commerce calls on the provincial government to maintain certainty and predictability as minimum wage set to rise to by 2021.
“Predictability and certainty are what’s on our members’ minds,” said Val Litwin, President and CEO of the BC Chamber of Commerce. “While front-loading the minimum wage increase will cause challenges for some businesses, the four-year timeline – with projected increases – will help businesses plan and incorporate those costs into their budgets.
The BC Chamber appreciates the work done by the Fair Wages Commission, as well as the opportunity to share insights from our members on the potential economic impact of a large-scale wage increase.
The BC Chamber’s province-wide membership has previously called for minimum wage increases to be linked to the Consumer Price Index, so as to bring stability and predictability to these increases and thus to protect BC businesses from the fallout of sudden, unexpected hikes.
“We support wage increases so employees can keep up with the cost of living. We also support increases being announced in advance to ensure businesses are able to adjust,” said Litwin. “Tying wage increases to CPI going forward provides businesses with the ability to plan and budget, and ensures they will not face large increases in labour costs”