The British Columbia government is increasing the minimum wage in two stages, in order to “better reflect the province’s overall economic growth and ensure all workers benefit from B.C.’s success.”
The first increase will be 40 cents and bring the minimum wage rate to $10.85 per hour, effective Sept. 15, 2016.
A second increase of 30 cents plus an amount based on the 2016 CPI (estimated to be 10 cents) will bring the minimum wage rate to $11.25, effective Sept. 15, 2017.
Last year, government announced a policy to index the minimum wage to British Columbia’s Consumer Price Index (CPI).
The new rates were announced Wednesday morning (May 4).
The government also is reaffirming its commitment to reducing the small business tax rate by 40% by 2017-18. This would mean a small business that is incorporated with $100,000 in active business income would have its taxes go from $2,500 to $1,500, savings of $1,000 annually, according to Premier Christy Clark.
In March 2016, B.C.’s average hourly wage was $25.12 overall and the youth average wage was $14.50, according to government figures.
Also announced Wednesday, the province is investing $2.88 million in new training programs to help with labour shortages in the province. The programs will be help young people, small businesses and employers in the retail, hospitality, agriculture and aquaculture sectors.