SURREY—The Independent Contractors and Businesses Association (ICBA) is raising the alarm over today’s B.C. Budget, calling it out-of-touch with the economic storm brewing from the Trump administration’s 25% tariffs on Canadian goods and the promised Canadian retaliation. ICBA President and CEO Chris Gardner says the combination of massive deficits, rising debt, and a looming trade war will have dire consequences for B.C.’s economy and the construction industry.
“Premier David Eby’s government is spending as if everything is fine when the reality is, British Columbia is on the brink of a recession,” said Gardner. “This budget was out of date before it was even printed. A full-blown trade war with the United States will hammer B.C. exports, drive up costs for builders, and put tens of thousands of jobs at risk.”
The B.C. Budget forecasts 1.8% real GDP growth in 2025, but ICBA warns that number is wildly optimistic given the economic damage expected from prolonged tariffs. “The B.C. government’s own estimates suggest up to 124,000 job losses and a cumulative GDP hit as high as $69 billion by 2029,” Gardner said. “Yet instead of acting decisively to strengthen the economy, this budget doubles down on reckless spending and ballooning debt. The Eby Government’s fiscal mismanagement has left B.C. vulnerable at the worst possible time.”
The Trump tariffs, and retaliatory measures from the Canadian government, are already creating uncertainty across the construction sector. The first wave of Canadian counter-tariffs includes over $3 billion in U.S.-made home appliances, flooring materials, nails, screws, fasteners, and construction machinery, all of which will drive up costs for builders and delay projects.
“If this trade war escalates, tariffs on steel and a wide range of building products are less than three weeks away,” warned Gardner. “That’s going to hit everything from structural beams to HVAC systems and everything in between. Costs will skyrocket, projects will be delayed or cancelled, people will lose their jobs and families in all parts of our province will be the ones left paying the price.”
ICBA is calling on the B.C. government to take decisive action to protect jobs and investment, starting with a full-scale economic strategy focused on growth, investment, and private-sector-led development, including:
- Slashing project approval timelines to speed up housing and infrastructure development.
- Reversing costly tax and fee hikes that are making construction projects unaffordable.
- Scrapping the Community Benefits Agreement (CBA) scheme, which drives up public project costs while limiting competition.
- Focusing on core infrastructure – sewers, water, ports, pipelines, and highways – to attract private sector investment, grow the economy, and spur housing starts.
- Help cities fund key municipal infrastructure to relieve the burden they face dealing with growth.
“This government has spent years getting in the way of economic growth. Now we’re facing a crisis that requires bold action,” Gardner said. “The NDP has failed to course-correct, leaving B.C. weaker, in serious trouble and with a limited ability to respond.”
