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MEDIA RELEASE IMMEDIATE RELEASE February 15, 2010 14 Million Remains in Budget for Regional Rapid Transit Victoria, BC – Minister Hansen delivered a budget speech today that showed the province remaining committed to rapid transit projects, and holding steady on cost increases across most ministries. “The budget has continued commitment to rapid transit funding which we are told includes the previously stated funds of $14 million for the rapid transit project in Greater Victoria,” says Bruce Carter, CEO of the Greater Victoria Chamber of Commerce. “That’s good news for our communities.” Provincial budget staffing also is positive for the region. The budget projected only a minor decrease in staffing across the province in the next three years, and that all through attrition. “Steady staff levels is important to the economy in Greater Victoria, so we are happy to see that decreases in FTEs are not anticipated,” continues Carter. “At the same time, the government is exercising fiscal prudence by committing to net-zero contract agreements through to the end of 2011 to help hold the line on expenses as the recovery continues.” The budget shows a conservative projection on revenue growth with a government forecast of 2 percent GDP growth next year and 2.6 percent in 2010, lower than most private sector economists. GDP growth is attributed to strengthening economic conditions and a rise in commodity prices. The Greater Victoria Chamber of Commerce has approximately 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce. -30- For more information contact: Shannon Renault Bruce Carter Manager Policy Development & Communications Chief Executive Officer Greater Victoria Chamber of Commerce Greater Victoria Chamber of Commerce Cell 250-812-0510 Email: [email protected] Email: [email protected] Cell: 250-889-2271
MEDIA RELEASE
February 15, 2010
14 Million Remains in Budget for Regional Rapid Transit
Victoria, BC – Minister Hansen delivered a budget speech today that showed the province remaining committed to rapid transit projects, and holding steady on cost increases across most ministries.
“The budget has continued commitment to rapid transit funding which we are told includes the previously stated funds of $14 million for the rapid transit project in Greater Victoria,” says Bruce Carter, CEO of the Greater Victoria Chamber of Commerce. “That’s good news for our communities.”
Provincial budget staffing also is positive for the region. The budget projected only a minor decrease in staffing across the province in the next three years, and that all through attrition. “Steady staff levels is important to the economy in Greater Victoria, so we are happy to see that decreases in FTEs are not anticipated,” continues Carter. “At the same time, the government is exercising fiscal prudence by committing to net-zero contract agreements through to the end of 2011 to help hold the line on expenses as the recovery continues.”
The budget shows a conservative projection on revenue growth with a government forecast of 2 percent GDP growth next year and 2.6 percent in 2010, lower than most private sector economists. GDP growth is attributed to strengthening economic conditions and a rise in commodity prices.
The Greater Victoria Chamber of Commerce has approximately 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.
-30-
For more information contact:
Shannon Renault Bruce Carter
Cell 250-812-0510 Email: [email protected]
Email: [email protected] Cell: 250-889-2271