1066 replies to this topic

[lanforod]

26.9k more jobs in a year? OK. How many more people?

[Victoria Watcher]

A new report finds Greater Victoria’s economy stuck is in neutral and describes how the region’s economy is in trouble, but also includes an outline for improvement.

 

The report by the South Island Prosperity Partnership (SIPP), shows the regional economy of Greater Victoria is in danger of stalling.

 

Aaron Stone, CEO of SIPP, said it’s time to build a regional economy focusing on the research institutions, post-secondary schools, and other partners.

 

 

Among the many factors it finds are contributing to a slowdown of the regional economy:

• House prices are up 47 per cent since 2019.
• Small businesses have been hit with lease hikes of 65 to 100 per cent.
• The aging population is placing increasing demands on healthcare.
• More people are leaving B.C. than arriving, with young people leaving in greater numbers.
• And in 2025 office vacancies reached more than 11 per cent.

“I think the stagnation that we’re seeing in the economy more broadly is acute everywhere. But again, those indicators tell us through collaboration and through coordinated action we can actually overcome those,” Stone said.

 

 

https://cheknews.ca/...report-1279952/

Edited by Victoria Watcher, 24 September 2025 - 01:35 AM.

[Sparky]

^ The aging population is placing increasing demands on healthcare.

 

Help me understand please...how does an increase in demands on healthcare contribute to a slowdown in the regional economy of the south island?

[Mike K.]

I don’t know.

I also don’t know what collaboration and coordinated action means in the context of a weak economy.

What’s missing from that list is we poked the bear, and instead of using the weak Canadian dollar to our advantage and wooing lots of Americans to visit our region at a time when their dollar goes so much further, we’ve told them we don’t like them.

Also, if we’re talking about rising commercial lease rates, why are we not talking about rising municipal taxation? SIPP is local taxpayer funded, and has chosen not to cite the impact of taxation on the economy on that list reproduced by CHEK. I can tell to you right now that each household spending 70 to 100% more on property taxes than they were circa 2015 removed a lot of money out of the economy and from being spent wisely and efficiently by the earner of that money.

[lanforod]

^ The aging population is placing increasing demands on healthcare.

 

Help me understand please...how does an increase in demands on healthcare contribute to a slowdown in the regional economy of the south island?

 

If anything, it should increase regional economy, if increased demand in healthcare drives increased spending in all those healthcare areas...

[dasmo]

If anything, it should increase regional economy, if increased demand in healthcare drives increased spending in all those healthcare areas...

That would be the case if our healthcare system was expanding with demand. It is not. In fact, Our system has been over capacity for decades now. 

 

B.C. hospital system has been operating over capacity for five years

Statistics show system has been operating over 100% capacity since 2012

https://www.peacearc...e-years-2798918

Edited by dasmo, 24 September 2025 - 12:04 PM.

[lanforod]

^ thats true, but some aspects of it are very likely expanding. e.g. the private ones like the labs, tests and therapy ones. In any case, that wasn't my point.