BC's Trade and Investment Offices ($10.4 Million in Savings)
Summary
The province of British Columbia operates a network of International Trade and Investment Representative offices. These offices are staffed by Trade and Investment Representatives (TIRs), whose role is to facilitate connections and serve as a bridge between BC businesses and foreign markets, as well as to attract investment into BC. There are 23 foreign locations around the world.
Problem
Recently disclosed financial data provides the clearest available snapshot, showing that the Province of BC spent $10,437,532.72 in FY2024 operating these trade offices globally.
There is also no publicly available financial statement or annual report for Trade & Invest BC. This lack of disclosure limits transparency and prevents British Columbians from understanding how their tax dollars are being spent.
Nearly all employees working for Trade & Invest BC offices abroad are foreign workers. Unlike public servants who work in our province, the BC government does not collect income tax from these foreign workers.
Solution(s)
1: Reduce the number of trade offices by 30% and develop a quantitative metric to determine the effectiveness of the remaining trade offices
Savings = to be determined based on which offices are closed
or
2: Shut down all the offices
Savings = up to ~$10.4 million per year