The company behind the Okanagan’s Predator Ridge and other major development projects says it won’t be spending capital in B.C. until there’s more certainty around the Declaration on the Rights of Indigenous Peoples Act.
“If you asked us today whether we’re going to invest in land in B.C., the answer is no,” said Kevin Layden, the CEO and president of Wesbild Holdings, in an interview with CTV News Wednesday.
A survey released Wednesday by the Business Council of B.C. highlighted similar concerns about DRIPA.
“It is creating a lot of uncertainty that is driving away investment,” said Laura Jones, the CEO of the Business Council of B.C.
The survey shows 98 per cent of the BCBC members canvassed are very concerned about DRIPA’s implementation. The other two per cent are somewhat concerned. Nearly three-quarters said they are decreasing investments in the province, and a third of the business operators canvassed are reducing hiring plans.
“Capital is going to go where there’s certainty and the promise of good returns,” said Jones. “Uncertainty creates uncertainty (about) whether you can get returns for your shareholders.”
A day after a poll from the Angus Reid Institute showed the B.C. Conservatives surging to a 10-point lead over the NDP – fueled by concerns about DRIPA – the Opposition picked up on the results of the BCBC survey.
“That’s 100 per cent of B.C. businesses that are concerned about the effects of DRIPA in some capacity,” B.C. Conservative MLA Clare Rattee told the chamber during question period.
In response, Jobs and Economic Growth Minister Ravi Kahlon dismissed the business council’s claims.
“B.C. outperformed what the B.C. Business Council projected was going to be the GDP growth for British Columbia last year,” said Kahlon.
And First Nations leaders say misinformation and fearmongering are driving much the DRIPA debate.
“I think even if gas (prices) went up, it was starting to blame it on DRIPA,” said Robert Phillips with the First Nations Summitt.
The NDP has flip-flopped on the controversial legislation this spring – originally planning to amend it, then suspend parts of it, and now pledging to revisit it in the fall after talks with First Nations.
“We need something to happen today,” said Scott McInnis, the B.C. Conservatives’ critic for Indigenous relations. “Not six months from now while the government tries to figure out what to do.”
