Tree Frog Forestry News

B.C.’s biggest economic and business stories of 2019

By Jock Finlayson EVP, Business Council of British Columbia & Ken Peacock, council’s chief economist
The Northern View
December 2, 2019
Category: Business & Politics
Region: Canada, Canada West

Jock Finlayson

As the new year beckons, it’s a good time to reflect on the major economic and business stories of the year that’s about to end. To keep the task manageable, the focus here is limited to Canada and B.C.  One surprising development in 2019 was the return to a period of falling interest rates. …For B.C., the crisis gripping the forest industry is clearly top of mind. More than a dozen lumber manufacturing plants in the interior and north have stopped operating – some permanently. Thousands of well-paying jobs have disappeared, and more are at risk. Lumber production and export shipments are down significantly compared to 2018 levels, helping to drive a decline in B.C.’s total exports. The NDP government has responded by providing some assistance to some laid-off forest workers and forestry-dependent communities. But it seems curiously indifferent to the long-term economic health of the province’s most important export industry.

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