Accountants feeling pretty good about B.C. economy

According to the recent BC Business Outlook Survey, the majority of B.C.’s CAs rated the B.C. economic climate as either fair or good.

According to the recent BC Business Outlook Survey, administered by the Institute of Chartered Accountants of BC, the majority of B.C.’s CAs rated the current provincial economic climate as either fair or good.

This optimism was tempered by uncertainly around the global economy and provincial tax policy in the wake of the HST referendum.

“Most CAs in the province recognize that we came through the recession better than many other jurisdictions and for the most part, certain sectors notwithstanding, it’s business as usual,” said Richard Rees, CEO of the Institute of Chartered Accountants of B.C.

“However, uncertainty in the U.S. and European markets could easily derail us. In addition, how the provincial and federal governments choose to move forward with reinstating the PST/GST will also impact our economy over the long term.”

The top six issues CAs identified as either major or moderate challenges to business success were: uncertainty with regard to the global, Canadian, and provincial economic climates, the ability to raise capital, housing prices, and consumer confidence.

The majority of respondents also listed the implementation of a value-added tax system as the most important thing the provincial government can do to improve B.C.’s economy, followed by reducing red tape.

When asked to rate the B.C. government’s management of the economy, four per cent of respondents thought they were doing an excellent job, 46 per cent rated the government’s performance as good, 38 per cent rated it as fair, and 12 per cent rated it as poor.

On the current state of B.C.’s economy, 1.4 per cent of respondents rated B.C.’s economy as excellent, 42.6 per cent as good, 52.9 per cent as fair, and 3.2 per cent as poor.

The BC Business Outlook Survey was conducted in August 2011. A total of 519 CAs completed the survey.

Those who participated were almost evenly split between industry (42 per cent) and public practice (46 per cent). Half of the respondents worked for companies with more than 50 employees, and just over under two-thirds were from the Lower Mainland.

The Institute of Chartered Accountants of British Columbia is the training, governing and regulatory body of B.C.’s 10,800 members and almost 2,000 CA students.

— Institute of Chartered Accountants of British Columbia

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Christmas will look a bit different in Cumberland this year, not only because of COVID restrictions but due to changes from BC Hydro about hanging decorations on the poles. Record file photo
Snowflakes a no-go for Cumberland’s power poles

Village, business association looking to promote shopping local for holidays

The Trenton Golden Hawks are changing their name and uniform for one game on Nov. 27 as they become the Trenton Snowbirds for one game to honour Capt. Jennifer Casey. Twitter photo
Hockey team honouring fallen Snowbird with Comox Valley connection

The Trenton Golden Hawks will become the Trenton Snowbirds for one game

A late-blooming Welsh poppy gave the Cox garden some unexpected colour last month. Photo by Leslie Cox
DUCHESS OF DIRT: La Nina signs not necessarily steeped in science

LESLIE COX Special to The Record I am beginning to think climate… Continue reading

The suspect is described as approximately 20-25 years old, between 5’3 to 5’4, with dark hair. He was wearing black Adidas pants, white shoes, and a puffy grey jacket. Photo supplied
Attempted robbery in Courtenay

Investigators from the Comox Valley RCMP Major Crime Unit are investigating

The Fifth Street Bridge requires structural improvements, new coating to repair and prevent corrosion, and deck repairs. File photo
Fifth Street Bridge repairs to proceed in Courtenay

The unofficial results are in for the Fifth Street Bridge Rehabilitation Alternative… Continue reading

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. daily COVID-19 cases hits record 941 on Tuesday

Further restrictions on indoor exercise take effect

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Krista Macinnis displays the homework assignment that her Grade 6 daughter received on Tuesday. (Submitted photo)
B.C. mom angry that students asked to list positive stories about residential schools

Daughter’s Grade 6 class asked to write down 5 positive stories or facts

B.C. projects targeting the restoration of sockeye salmon stocks in the Fraser and Columbia Watersheds will share in $10.9 million of federal funding to protect species at risk. (Kenny Regan photo)
13 projects protecting B.C. aquatic species at risk receive $11 million in federal funding

Salmon and marine mammals expected to benefit from ecosystem-based approach

Picture of two swans leaving the Cowichan estuary moments before one was shot out of the sky. (Submitted photo)
Petition to stop hunting in Cowichan estuary after swan shot

Hunters blame shooting on illegal poachers

Bob Higgins pulls the gate across on the elevator built inside his home. (Photo by Don Bodger)
Island man’s expertise earns international award with home-built elevator

Experience put to use in winning contest entry for furniture and home projects

Barrels pictured outside Oliver winery, Quinta Ferreira, in May. (Phil McLachlan - Black Press Media)
B.C. Master of Wine reflects on industry’s teetering economic state

Pandemic, for some wine makers, has been a blessing in disguise. For others, not so much.

A fentanyl test strip is used at Vancouver Coastal Health in Vancouver, Tuesday, January, 21, 2020. The test strips will be made available to drug users to ensure that their drugs are safe and free of Fentanyl. THE CANADIAN PRESS/Jonathan Hayward
Drug overdoses lead to 5 deaths each day in October; drug toxicity continues to increase

COVID-19 crisis continues to exacerbate the overdose crisis

Most Read