ICBA President Philip Hochstein was on Global BC last night talking about the risk to jobs and the economy with an NDP government. He outlined the heavy cost to workers and the economy that spins out of NDP leader Adrian Dix’s constant negative stands on major resource investments like the Trans-Mountain Pipeline expansion and natural gas development.
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Residential construction costs are up 65-70% since 2019. Overall inflation? About 25%.
Non-residential building costs: up 40-45%. And Canada's increases have outpaced the U.S. across the board.
ICBA Chief Economist Jock Finlayson digs into why — and what to do about it: