Vancouver, British Columbia—Vancouver’s City Hall has announced it is going to consider a new plan to increase the city’s minimum wage.
According to a news release from the City of Vancouver, “a citywide increase in the minimum wage would provide a significant boost to Vancouver’s economy and support the construction of affordable housing.”
The City of Victoria and Vancouver have both already instituted a minimum wage increase.
The new plan would see the city increase the wage from $10.75 to $15 per hour over the next five years, with an additional $2 per hour of hourly pay for senior workers.
The city also announced it would be adding an additional 10 hours to the hours that employers are allowed to work per week.
The City Council is expected to vote on the proposed increase next month.
The city’s budget office estimates that by 2019, an increase of $5 billion would result in $2.7 billion in new spending on infrastructure.
The increase would come from the $2 billion in tax revenues that would be raised from a 5 percent increase in housing prices, which are expected to be between 15 percent and 20 percent higher than what is currently the case.
Vancouver has been on a budget deficit for years, and has recently seen the city budgeted an additional 1.3 billion dollars for 2017, which is a $10 billion increase over the previous year.
The Mayor of Vancouver has also proposed increasing the minimum wages in 2019.
In 2017, the city implemented a $2 minimum wage for all employees, which was only applied to workers over the age of 25.
The proposed minimum wage hike would increase the minimum for those under the age 25 from $12.25 to $16 per hour, and for workers over 25 to $18 per hour.
There is also a new initiative that aims to increase Vancouver’s minimum wages by $1 per hour by 2020.
This is a small increase, but will go a long way towards making Vancouver more attractive to employers.
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