The city of Kamloops will finally come out with it’s budget update next week and many people will be paying attention including our Chamber of Commerce.

Originally, the budget was passed in March but COVID-19, and was passed again in May with a new tax rate of 2.29 per cent, and it continues to be scrutinized.

While on the NL Morning News, Chamber executive director Acacia Pangilinan said their membership has some concerns ahead of the next budget update. “We’re definitely keeping a close eye and really we just want to what is the government’s plan to get us out of this and what is it going to look like moving forward.”

“So, we’re definitely watching all the announcements on anything to do with our financial position, for sure.”

As for Chamber members go. “We have heard from the membership that there is some concern.”

Pangilinan said there’s one outcome she’s not hoping for. “I guess the natural response would be to increase taxes and if those taxes are increased would that be on the backs of business? We don’t know, so we’re watching really closely to see what happens.”

She says there is optimism but also some uncertainty. “We’ll just have to wait and see when it comes out. I think that despite the pandemic we’re seeing increases in building permits with the value of them, so some things are going well and we’re seeing some of those shovel ready projects getting going too so I think we’ll just wait and see what it comes out with.”

The fiscal update will come at the next city council meeting on July 14th.