ANITA HUBERMAN
SURREY – On February 26, the BC Government announced minimum wage increases from $16.75 to $17.40 per hour on June 1, 2024.
This represents a 3.9% increase, even though British Columbia’s Consumer Price Index (CPI) in January 2024 was 3.0% higher (unadjusted) than in January 2023, and Canada’s CPI was up 2.9% (unadjusted) in January 2024 when compared to January 2023.
“Depending on what inflation metric is used, minimum wage increases could still be unsustainable as inflation is in itself unpredictable,” said Anita Huberman, President & CEO, Surrey Board of Trade.
“It is imperative that the BC Government take action to focus on reducing costs to businesses by convening a commission to review taxes and red tape impacting businesses.”
Read the full release by the BC Government here: https://news.gov.bc.ca/releases/2024LBR0006-000240
Read the SBOT policy here: https://businessinsurrey.com/wp-content/uploads/2024/02/MINIMUM-WAGE-TIED-TO-CPI-2023.pdf
