Budget 2025 presents a mixed bag for Peace Region: Chamber

Federal Budget 2025, entitled Building Canada Strong, was passed by a narrow two-vote margin in the House of Commons on November 17. This budget, with its $78.3 billion deficit is a mixed bag of promising opportunities and challenges for the economy of the Peace Region. These challenges will “require careful navigation” across all sectors, according to a statement from Fort St. John and District Chamber of Commerce president Vince van Wieringen.

The biggest negative impact for all key sectors is the increase in the industrial carbon price to $170 per tonne by 2030. This increase will raise operational costs for producers in the oil and gas, agriculture and small businesses.

Because the Peace Region has the highest number of entrepreneurs per capita in Canada, it’s only natural that the local chamber would look closely at what benefits to small businesses there are in the budget. Van Wieringen found that it’s something of a mixed bag.