New Economy Canada reacts to BC 2025 budget

Press Release

In the face of tariffs, budget focuses on supporting people and reaffirms commitments to getting things built in BC

VICTORIA, March 4, 2025 – In response to BC’s 2025 provincial budget, Alexa Young, New Economy Canada’s Vice President, said:

“Today’s budget stays the course with its focus on delivering the services British Columbians rely upon, while also reaffirming earlier commitments to getting things built in BC, including an important focus on critical mineral mines, clean energy projects and electricity transmission infrastructure.

Budget highlights include:

• investing an additional $30 million into the Integrated Marketplace Initiative will build on past successes in connecting companies with innovative new technologies to buyers, helping them commercially demonstrate their product and secure market validation, which is critical to their scaling.
• extending the Clean Buildings tax credit to continue incentivizing energy efficiency upgrades will continue to build market demand and momentum for workers and supply chains delivering on these projects,
• extending the New Mine Allowance to the end of 2030, and
• First Nation resource revenue sharing agreements and the potential provision of provincial First Nation equity loan guarantees

In the face of American tariffs, we fully support the BC government’s efforts to strengthen our economy by getting things built and ensuring we are a go-to destination for clean economy investments, especially as the U.S. backs away from past commitments. Doing so will help sustain and create jobs for British Columbians including construction and manufacturing plant workers, electricians, miners and fleet operators.

We urge the BC Government to keep working with our federal government and the other provinces on a Team Canada approach to supporting workers and businesses through these challenging times and making our economy stronger and more resilient in the long-term.”

About New Economy Canada:

New Economy Canada is a non-partisan initiative uniting business, labour, and Indigenous leaders committed to driving Canada’s economic transition. Our members represent diverse industrial sectors acting now to unlock the power of resilient and affordable clean energy and technology to grow investment and jobs. A full list of our members can be found at neweconomycanada.ca.

Our quickly growing membership employs or represents over 410,000 workers and generates annual revenues of over $200 billion CAD.

For further information, please contact:

Alexa Young
Vice President, Policy, Government Relations and Public Affairs
New Economy Canada
alexa.young@neweconomycanada.ca

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