2009 Annual Report Mission Statement Our Mission Is to Build a Competitive and Growing Economy That Provides Opportunities for All Who Invest, Work, and Live In

2009 Annual Report Mission Statement Our mission is to build a competitive and growing economy that provides opportunities for all who invest, work, and live in

British Columbia.

Distinctive Excellence The distinctive excellence of the Business Council of British

Columbia is our ability to research, develop, and advocate credible policy positions on economic and related issues that influence the Government, business community, and public of British Columbia. Message fro m t h e C h a i r

participants discussed the role of the Olympics As the global in shaping our future and your Council tabled a financial crisis synthesis report highlighting key initiatives which caught up with will drive our future growth and prosperity. BC bringing As the global financial crisis caught up with BC unprecedented bringing unprecedented cost-cutting, 19 new cost-cutting, 19 members from all sectors joined the Council demonstrating their belief in the strength of new members association in good times and bad. Already in from all sectors 2009 has been an important year for the Business 2010 we have attracted 12 new members and Council of British Columbia and its members. joined the Council under the direction of Richard Prokopanko, demonstrating The spring saw us in a provincial election in which our revitalized Membership Committee will be their belief in the Council added its voice to other business seeking to bring in new members from around groups in a campaign entitled “There’s No Place the province. the strength of We’d Rather Be” featuring members discussing association in good Our Board of Governors, Executive Committee, the importance of a stable political environment times and bad. dedicated membership and staff have all in attracting investment and creating jobs. played important roles as we have made our Outlook 2020, a visionary piece of policy work way through troubled economic times and saw your Council commissioning 28 papers through the most successful Olympics ever. I on diverse subject areas impacting economic want to particularly thank Virginia Greene, Jock growth in British Columbia to 2020. These Finlayson, Doug Alley and Herb Eibensteiner for papers became the subject matter for a series their high quality work and dedication. of three Summits looking at the impact of We are grateful to our membership for their changing world markets, demographics and ongoing support, particularly when resources the future of the resource sectors and new are tight, and welcome the many new members industries on the future of British Columbia. who have been attracted to the high calibre Hundreds of business leaders came out to work of the Council. debate and challenge ideas while the public was invited into the discussion through a series T R O of editorial pieces. P E R The final piece of this work – Outlook 2020: L Shaping B.C.’s Economic Future Chapter Graham MacLachlan UA n n Four – was held in April 2010 in which the Chair 2 0 0 9 A

3 Message fro m t h e p r e s i d e n t

Coming out of 2009 As I sat down to off the mark when things begin to turn around. our financial house, write my 2009 And, in fact, we have been. Coming out of while dealing with a message to our 2009 our financial house, while dealing with members I was a deficit, has a 4-year plan to restore balance, deficit, has a 4-year struck by how our economy is diversified as never before plan to restore quickly and dra and taxes in this province make us the most balance, our matically things competitive jurisdiction in Canada. Our will to economy is can change in succeed is high. diversified as never life. We have We spoke then as well of the importance of before and taxes in just concluded leadership and we saw it everywhere as our one of the best Olympic experiences ever this province make members emerged one after another shaping and the heart-lifting performances of athletes, us the most their organizations to ride out this storm and volunteers, and Canadians, has us looking competitive position themselves for the future. forward with more overall optimism than many jurisdiction in of us thought possible a few short months ago. Your Council experienced a similar refresh Canada. Our will to and refocus. Under the direction of John The Queen said it best when she described succeed is high. Webster and the Finance & Audit Committee, 1992 as an “annus horribilis” after one all expenditures have been carefully looked at, catastrophe after another beset the country priorities have been reassessed and refocused, and her family. These words come to mind as I the fee structure updated, and we come into recall 2009. 2010 lighter on our feet. We are confident that I said in 2008 as we saw what was coming we can provide not only what our members can at us in the world economy that we were not afford but what matters to them; excellence in going to escape the recession and we did economic and policy analysis, opportunities not. Every sector of our diverse economy was to connect with peers, strong advocacy and affected as exports dried up along with capital, most importantly a rigorous look at our future governments slipped back into deficits, jobs economy and prosperity through our Outlook

A 9 0 0 2 were shed in record numbers and the growth 2020 initiative. we had come to expect and enjoy evaporated. Even as we were all tightening belts our n n

A U We also noted that British Columbia was well- members saw the long-term benefits of

L positioned to weather this storm and be first investing in Outlook 2020 and in 28 papers on R E P O R T

4 Even as we were all tightening belts our members saw the long-term benefits of investing in Outlook 2020 and in 28 papers on subjects as diverse as the future of the subjects as diverse as the future of the green me to the quality of our health care system, green economy and economy and the importance of investing in acquainted me with the kindness of strangers the importance of early childhood education. and left my family and I humbled by the support investing in early we have received from the members of the childhood Three major Summits were held, with member Council. We thank you, I thank you, for making support, during which this subject matter education. this experience less lonely and for ensuring was debated by industry leaders. Numerous there was never a day in which I did not feel the editorial pieces and dialogue sessions involved power of your well wishes in my healing. the public in this debate. Government leaders have played an active role and many of the We are poised for greatness. We have seen it priority issues we raised have found themselves in ourselves. Your Council is prepared for the into government thinking and policy already. future, your support has never mattered more, Jock, Herb, Doug, Barbara, Ken, Vicki, Katie Our final Summit on April 23, 2010, brought and I remain dedicated to supporting your together leaders to debate our “Outlook 2020: efforts in making British Columbia a Shaping B.C.’s Economic Future” synthesis prosperous place to live, work and invest. report in which we laid out the way to the future. We started with an exciting look back at Thank you, T the role of the Olympics in propelling us forward R O P

and repositioning us in the global economy. E R L On a personal note, my year, while it has Virginia Greene UA

been an unusually tough one, has introduced President and CEO n n 2 0 0 9 A

5 2009: Year in review

BC Economy Slips Statistics Canada’s 2010 Investment Intentions into Recession survey, published in February, projects a 5% increase in planned capital spending this year, The global financial crisis as business confidence improves and access that began with tumbling to capital gets easier. Exports should also get US home prices and a lift from a stronger global economy and the the related collapse of initial stages of economic expansion south of sub-prime mortgage the border. Tourism received a well-timed boost markets caught up to courtesy of the tens of thousands of visitors who British Columbia in the traveled to BC for the 2010 Winter Olympics. second half of 2008. By the final months of the The February 2009 provincial budget was The good news is year, economic indicators were weakening unveiled in an environment of unusual economic uncertainty (as well as a looming election). that the BC across-the-board. By the fourth quarter, the province had clearly tipped into a recession After three years of sizable surpluses, the BC economy is now that persisted through the first half of 2009. government foresaw a barely balanced budget rebounding after Preliminary estimates suggest the province’s for 2008-09, followed by two years of small two poor years. economy contracted by 2.5% last year, on the operating deficits requiring the government Recent data signal heels of a very tepid 0.3% advance in 2008. to amend the legislation mandating balanced a revival of Exports, residential investment, retail sales budgets. Unfortunately, economic conditions consumer and and employment all posted significant drops continued to deteriorate in the weeks and business spending compared to the previous year. Lumber prices months following the February 2009 budget, taking a particular toll on government revenues. and a return to remained low throughout 2009 and natural gas prices were also fairly weak. Other commodity By September 2009 the re-elected BC Liberal positive job growth. markets of interest to BC were more volatile, with government faced a much bigger deficit for coal and metal prices recovering after slumping 2009-10 – $2.8 billion. In addition, Finance in late 2008 and the early part of 2009. Minister Colin Hansen’s revised fiscal plan showed the books remaining in the red over A 9 0 0 2 The good news is that the BC economy is now four years. rebounding after two poor years. Recent data

n n signal a revival of consumer and business The deficit projections and overall fiscal plan A U spending and a return to positive job growth. outlined in September were essentially re- L R E P O R T

6 confirmed in the new provincial budget delivered the combined 12% HST (in place of just the In February 2010, on March 2, 2010. To support economic 5% GST today). The Business Council has long the province recovery, the province is relying mainly on higher recommended shifting from the PST to a “value- announced a review capital spending – with total capital outlays added” type sales tax as part of an economic of property taxes climbing almost 40%. A key theme underlying strategy to boost investment and productivity. paid by “class four” the 2009 and 2010 budgets is that steadily In February 2010, the province announced a rising healthcare costs are squeezing out other businesses under review of property taxes paid by “class four” priorities and constraining government’s fiscal the current property businesses under the current property tax maneuvering flexibility. This problem is not tax system. The system. The Business Council is participating in unique to British Columbia. Business Council is the review and is represented on the Steering Shortly after the election the government Committee that is overseeing the work. participating in the announced a major tax reform: replacement review and is Over the past year the Council kept a close of BC’s provincial sales tax (PST) with a single, represented on the watch on federal economic and fiscal policy harmonized sales tax (HST) that will be fully Steering Committee issues. We supported the Canada Action Plan integrated with the federal GST, effective July outlined by the Conservative government in that is overseeing 1, 2010. By eliminating the $2 billion in PST its January 2009 budget and advocated for the work. tax that is now borne by companies in BC, the investments in infrastructure projects and HST will substantially improve the province’s other priorities important to BC, including the competitiveness. Once implemented, the HST Highway 37 power corridor. We also provided will lower compliance costs for businesses and submissions and other input to Ottawa on reduce the cost of “producing” many goods and matters such as Employment Insurance, services in BC. The benefits will be greatest for research and development policy, immigration, exporters and other trade-exposed industries. and transportation issues. A few service sectors will be disadvantaged, as previously PST-exempt services are subject to In January 2010 the Business Council published a paper in response to Metro Vancouver’s draft Regional Growth Strategy. We recommended that T

Metro modify the RGS in order to better capture R O P

the demographic trends, economic base, and E R

competitive realities of the region. L UA n n 2 0 0 9 A

7 Other provincial/ local environmental issues on which we have been active include contaminated sites, the management of Finally, during the course of 2009 the Business issues of interest to the provincial business air pollutants, Council put significant resources into our community. modernization of Outlook 2020 initiative, which seeks to chart a Over the past year, our Environmental Policy the provincial Water positive and realistic vision and agenda for BC’s Advisory Group held meetings with provincial Act, and potential prosperity in the post-Olympic decade. Three Ministers and senior officials responsible new regulations half-day Outlook 2020 summits were held over for climate change and other aspects of the second half of 2009 to discuss a number governing the use environmental and energy policy. We prepared of key themes emerging from the project, and of “cosmetic” written submissions dealing with elements of work continued on finalizing the 28 topic papers pesticides. the proposed Western Climate Initiative (WCI) commissioned for the project. The wrap-up “cap and trade” system and with BC’s new Outlook 2020 summit was held April 23, 2010. regulatory requirements concerning greenhouse The Business Council is grateful to the many gas reporting and domestic offsets. The business members who supported Outlook 2020 and to community continues to worry about the prospect the important contribution made by project co- of “double” regulation, as the BC and federal chairs Carole Taylor and David Emerson. government flesh out their respective approaches Over the past year, the Business Council to climate policy. We would like to see a single, continued to produce Policy Perspectives, the Canada-wide regulatory framework applicable to quarterly BC Economic Index, and our periodic industrial emissions of greenhouse gases. BC Economic Snapshot. These publications Other provincial/local environmental issues provide our members with timely economic on which we have been active include information and often receive public and media contaminated sites, the management of air attention. pollutants, modernization of the provincial Water Act, and potential new regulations governing Environmental Policy the use of “cosmetic” pesticides. At the federal level, the Business Council remains engaged The Business Council remains heavily engaged with Canadian climate policy, environmental with various environmental policy and regulatory A 9 0 0 2 assessment issues, federal government initiatives concerning air pollutants, and the ongoing need

n n to modernize the Fisheries Act. A U L R E P O R T

8 The Business Council’s Environment and Energy During 2009 the Council examined all aspects Bulletin allows us to publish short pieces which of the way we operate with a goal in mind of address current environmental and energy making sure every dollar spent provided the issues affecting the business community. maximum amount of value to our members. The benefit of the economic crisis was To help guide the Council in its efforts, the that it forced almost Aboriginal Issues Executive Committee established a Finance & Audit Committee. Along with advising the Council all organizations, The Business Council continues to monitor on matters relating to financial sustainability, including the efforts by government to reach agreements the Finance & Audit Committee also initiated Business Council, with First Nations touching on matters such a comprehensive internal audit of the Council to carefully look for as economic development, revenue-sharing, operations. The internal audit provided valuable land and resource use, and capacity-building. better ways to do recommendations, all of which have been In 2009 we undertook significant policy business. During implemented, that will further ensure the Council and advocacy work stemming from the BC 2009 the Council is managed as effectively as possible. government’s plan to introduce new Recognition examined all and Reconciliation legislation. To coordinate this The Business Council’s strength as the foremost aspects of the way effort, we established a Task Force on Aboriginal policy and business advocacy organization in we operate with a Issues which continues to operate. In the end, the province is drawn from the significance goal in mind of the province decided not to proceed with its and collective size of our members. Even making sure every Recognition and Reconciliation legislation. during a tough year the Council grew stronger by adding 19 new members, all committed to dollar spent making British Columbia a better place to do provided the Membership and Operations business. For 2010 the Council has revived its maximum amount “A crisis is a terrible thing to waste” was a term Membership Committee, under the leadership of value to our coined by Stanford economist Paul Romer that of Richard Prokopanko, to help with growth, members. seemed to re-emerge in 2009 as a catch phrase retention, and value adding strategies. for shedding some positivity on the greatest

recession in over 75-years. The benefit of the T

Human Capital R economic crisis was that it forced almost all O P E

organizations, including the Business Council, The Business Council’s involvement in human R L to carefully look for better ways to do business. capital issues has always been valued by our UA n n 2 0 0 9 A

9 Member requests information, be it legal issues such as court for services and and tribunal rulings, or demographic issues. information are Our collective bargaining database continues to expand. Members find the information of becoming more value to them, whether or not they operate in a diverse. We unionized environment. continually strive to provide our One of our members’ biggest challenges is attracting and retaining the best and the members with the brightest. We will be focusing on issues that will most current members, the public and various governmental enable them to meet these challenges including information, be it agencies. The input provided to policy the education system, industry training and legal issues such as development in all areas of human capital immigration policies. However, we also must court and tribunal has long been recognized as one of the many ensure our legislative framework enables our rulings, or strengths of the Business Council. members to operate with maximum flexibility. We will continue to make representations to demographic The way in which businesses operate is rapidly government on such topics when appropriate. issues. changing, as are the human capital issues being faced by our members. This past year saw the Business Council involved in such diverse issues 2009 Events as the K–12 education system, Employment Throughout 2009 the Business Council held Insurance, replacement worker legislation a number of major conferences, roundtable in the federal sphere, immigration, industry meetings, and other events that allowed our training and health and safety regulations. Our members to keep informed about current involvement in the Labour Relations Code and developments, and stay connected with other the Employment Standards Act, has lessened in business leaders and government. recent years as the provincial government has

not embarked on any major legislative initiatives Major Conferences included: in these areas although we continue to monitor • Outlook 2020 Chapter 1 – The Life and Times subject areas of interest to our members. of a Small Open Economy in a Changing A newly constituted Committee on Human World: British Columbia’s International Capital, chaired by Eric Harris, provides direction Perspective

to the Council on emerging policy issues. • Outlook 2020 Chapter 2 – Foundations for the

A 9 0 0 2 Future: Innovation, Human Capital, and B.C.’s Member requests for services and information Next Economy are becoming more diverse. We continually strive n n to provide our members with the most current • Outlook 2020 Chapter 3 – Positioning for A U L R E P O R T

10 Prosperity: Commercial and Industrial • Roundtable, Hon. George Abbott, Minister of One of our members’ Opportunities for a New BC Economy Aboriginal Relations and Reconciliation biggest challenges is • Perspectives from the North • Roundtable, Hon. Barry Penner, Minister of attracting and • 100th Anniversary of the Department of Environment retaining the best and Foreign Affairs and International Trade • Roundtable, Hon. Rona Ambrose, Minister of the brightest. We will Canada, jointly hosted by the Council and Labour be focusing on issues DFAIT Numerous other meetings were held throughout that will enable them • British Columbia Leadership Luncheon, the year that included various provincial and to meet these Premier Gordon Campbell international government officials, business challenges including • Business Council’s Annual General Meeting, leaders, committee and task force members, and the education system, guest speaker Dr. Michael Goldberg several visits to our members based in Alberta. industry training, and • Employee Relations Outlook Session immigration policies.

Meetings with the Provincial Government: However, we also must ensure our • Executive Committee & Board of Governors Meetings, Premier Gordon Campbell legislative framework enables our members • Member Forum, Hon. Colin Hansen, Minister of Finance to operate with maximum flexibility. • Roundtable, Carole James, Leader of the Opposition T R O P E R L UA n n 2 0 0 9 A

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