BC Business
Workers on the assembly line at a salmon processing plant
Fish farm rulesIn a boon for B.C.’s salmon farmers, the federal government has agreed to issue multi-year licenses for fish farms in order to promote capital investment in aquaculture and give operators longer-term planning capacity. Under the new rules, Fisheries and Oceans Canada (still referred to by many in the sector as DFO) will issue licenses for periods of up to nine years, which the industry hopes will stimulate interest from investors. Previously, licenses for pens and hatcheries had to be renewed annually. The latest rules come as Fisheries and Oceans Canada seeks to shore up the industry with longer-term regulations. B.C.’s salmon and shellfish farms netted $655 million in wholesale revenues in 2013.
A taste for wineCanadian consumption of wine is increasing, if slowly, according to a report compiled by the U.K.-based International Wine and Spirit Research Agency.: Canadians drank 0.6 per cent more wine in 2014 over 2013, and according to the report, consumption is set to increase by 4.1 per cent, to 16.4 litres per adult, by 2018. And when it comes to choosing a bottle, Canadians (unsurprisingly) go for foreign wines. In 2014 the country became the sixth largest importer of wine in the world, with a surge in imports of New World wines (imports from New Zealand increased 17.7 per cent alone). Spirits, however, are another matter. The report predicts that Canadian consumption of vodka, brandy and other liquors will decline by 2 per cent by 2018.
Budget 2015Despite a forecast surplus of $284 million for next year, don’t expect any new spending programs. Today’s budget largely stays the course, increasing fees for services for MSP, BC Ferries, BC Hydro and ICBC, while accounting for a drop in natural resource revenues. Here are some other highlights you need to know.