The Greater Vancouver Board of Trade (GVBOT) has launched The 3% Challenge – Agenda for Economic Growth, a call to action for government to adopt the challenge and pursue policies that will boost British Columbia’s economic growth. This campaign advocates for policies that ensure a prosperous and affordable future for all British Columbians. With the U.S. tariffs and global economic uncertainty looming, the need for decisive action here at home is now.
“Growing our economy is key to making life more affordable and building a better future for everyone in B.C.,” said Bridgitte Anderson, GVBOT president and CEO, noting the tariffs should serve as a catalyst for action in B.C. “This is the time to bring industry and government together to reduce barriers, speed up permits, get projects built, and create well-paying jobs that support communities across the province.”
The 3% Challenge seeks a commitment from the government to adopt a 3 per cent target for annual real GDP growth. Reaching this goal over the next five years would:
- Improve affordability by raising GDP per capita by up to $9,000;
- Generate up to $4.0 billion in additional revenue for critical social services such as healthcare, education, and public safety; and
- Create tens of thousands of new jobs across the province.
“The 3% Challenge is a proactive step to bring economic growth to the heart of government decision-making,” added Anderson. “By working together—businesses, government, and workers—we can rise to meet these challenging times to create a brighter, more prosperous future.”
Achieving 3 per cent growth requires deliberate actions and solutions from the government, including streamlining regulations, growing and diversifying trade, and strategic investments in infrastructure and workforce development.
