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The minimum wage in BC increased June 1 from $15.20 to $15.65 per hour. The increase is based on the average annual inflation rate of 2.1% in 2021.

"According to the province, the increase helps workers but if governments really want to tackle affordability concerns they need to address the fundamental reasons affecting the cost of living," Chamber CEO Bruce Williams said. " We need more housing, which requires a concerted effort to allow builders to build — less red tape and more help attracting workers and getting materials to our region."

The Chamber continues to advocate for real solutions that add to Greater Victoria's workforce housing and reduce costs of other major expenses, such as child care and transportation.

"Raising minimum wage can hurt the economy by making it harder for some of our major employers to get high school and college students into the workforce," Williams said. "We'll keep working with our partner organizations to make sure employers have a say on any future increases to minimum wage — especially with atypical factors affecting inflation right now. Government needs to understand that increasing the cost of doing business affects affordability for everyone."

The Bank of Canada raised its interest rate by half a point Wednesday morning, after higher than expected inflation in April. The move was expected as global economies continue to face challenges. In simplest terms, the economy continues to struggle with supply challenges and is not able to meet demand for goods and services. The result has been rampant inflation, making the cost of living less affordable.

"With the economy in excess demand, and inflation persisting well above target and expected to move higher in the near term, the Governing Council continues to judge that interest rates will need to rise further," the Bank of Canada said in a June 1 media release. "The pace of further increases in the policy rate will be guided by the Bank’s ongoing assessment of the economy and inflation, and the Governing Council is prepared to act more forcefully if needed to meet its commitment to achieve the 2% inflation target."

The increase by the bank will mean higher costs for borrowing and will affect the housing market and some business's ability to make investments in their operations.

A class action settlement against certain credit card surcharges means businesses that accepted credit card payments between March 23, 2001 and Sept. 2, 2021 could be entitled to rebates of up to $5,000.

The class action opposed certain rules regarding fees paid by merchants and collected by banks for Visa and MasterCard transactions. The deadline for eligible businesses to submit a claim in order to participate in the settlement is Sept. 30.

A new housing project in James Bay is a good example of how all levels of government can work to address affordability concerns in our region. The Michigan Square project will create almost 100 homes for people with moderate and low incomes. The majority of units will provide housing that helps much needed workers afford to live in our community.

The new buildings at 330-336 Michigan St. will provide 97 new units and replace three aging buildings rendered uninhabitable by water damage. The project includes 24 units at the provincial shelter rate as well as 22 units with rent geared to income and 51 units aimed at moderate income earners and rented at market rates.

The Capital Region Housing Corporation will own and operate the new buildings, with the Capital Regional District contributing $1.1 million and the City of Victoria providing $620,000. BC Housing is providing $11.7 million in low-cost financing through the HousingHub and $4.6 million through the Building BC: Community Housing Fund. A further $4.5 million is being funded through a partnership between CRHC, the province and the federal government.

The plan to transform a City of Victoria neighbourhood into an Arts and Innovation District received a $750,000 boost from the federal government.

The funds will help pay for protected bike lanes, pedestrian crossings, traffic signals, public seating, art and landscaping along Government Street from Pandora Avenue to Gorge Road.

“We so appreciate the federal government’s investment, through PacifiCan, in the City’s Arts and Innovation District," Victoria Mayor Lisa Helps said in the news release. "This project has transformed Government Street, delivered significant road safety, asset renewal and placemaking improvements all of which strengthen our economy and increase our resiliency as a capital city.”

70% of Planet Earth’s surface is covered with water. One of the world's leading Marine Observatories is Ocean Networks Canada, an affiliate organization of the University of Victoria.

In this Chamber Chat, we hear fascinating information about our oceans from Ocean Networks Canada CEO Dr. Kate Moran.

Ocean Networks Canada: Member since 2019

Our #ChamberLocalVicBC campaign aims to help individuals understand what local means on a social, economic, and community level — and we want to hear from you.

Being a local business can mean many things, and we would like to invite our members to showcase their thoughts on what it means to be a local business.

Let us know how your organization defines local and we'll feature you in our campaign. Contact Thomas at members@victoriachamber.ca to share your story.

Check out our previous #ChamberLocalVicBC participants to read stories about great local Chamber members.

From buying gift cards to leaving reviews of your favourite local businesses online, we can continue to support our friends, family, and our #ChamberLocalVicBC community.

From May 29 to June 4, join us in celebrating National AccessAbility Week — a week dedicated to disability inclusion and accessibility in Canada. Join the conversation and ask yourself: how can I champion disability inclusion in my everyday life?

During National AccessAbility Week, recognize an individual or an organization that improves accessibility in your community. Visit The Chamber’s Member Directory for a list of our members that strive to promote inclusivity in Greater Victoria.

Through The Chamber’s Inclusion, Diversity and Equity Advancement (IDEA) Committee, our engaged committee members offer advice and guidance to The Chamber to create a more inclusive and welcoming business community that truly represents the diversity of the Greater Victoria.

Watch our Chamber Chat ​featuring Joanne Neubauer of the Action Committee for Persons with Disabilities, and IDEA Committee member Wendy Cox of the Victoria Disability Resource Centre to learn more about how the pandemic has highlighted the need for accessibility and inclusion.

Members can post Coupons and Discounts free of charge here.