Front Street businesses endeavour to survive under construction > Parkade demolition might defeat some businesses Aaron Guillen Staff Reporter emolition crews are deconstructing the Front Street parkade. Unsurprisingly, the massive undertaking, begun in early February, has brought about the first phase of hardships for nearby businesses. Recently, local owners from The Wine Factory and Antique Alley Movie Props have spoken out to news outlets, placing the blame of reduced business upon the demolition. Antique Alley owner Craig Ruttle explained to Global News how sales have significantly dropped compared to last year’s numbers, and Harm Woldring’s business, The Wine Factory, is taking the same hits. “Traffic in downtown New Westminster is so terrible that customers are just not coming to town,” said Woldring to Global News. He’s the first to consider a permanent closing by March, should sales not improve. “I sold $120 in two days. Normally, we need $1,000 a day to keep the doors open.” In an effort to keep Front Street alive until the end of construction by July, the City of New Westminster has been regularly sharing their #UncoveringFrontStreet blog posts. Additionally, signs have been placed around the area and digital posters at Skytrain stations are still in rotation. The Strong Side Conditioning Gym, Westley Military Surplus, Quay Pacific Property Management, Rain City Juicery, and Old Crow Coffee Co. spent time answering some inquiries. When asked to explain any shift in business since Front Street construction began, all companies Image via Rain City Juicery via facebook have seen a distinct drop in foot traffic, with the exception of Old Crow Coffee Co. “I would say that it has brought more people down to our shop because there is so much buzz around town about the closures and the construction. It seems that our patrons have... made a point to continue coming to show their support,” noted an employee from the coffee shop. Understandably, while the companies have seen a drop in walk-by foot traffic, many are taking different approaches in order to pay the bills. While all BC budget adds $25 million to post- secondary funding, elicits criticism > SFU prof argues that current SFU students ‘unlikely to see any benefit’ from long-term plan Laura Scheck The Peak (Simon Fraser University) he BC Liberals have emerged with a new budget for this fiscal year. On February 16, the provincial government released the 2016-17 Budget, a document that pinpoints multiple government sectors that will be impacted in the upcoming fiscal year. In his speech to the Legislative Assembly of British Columbia, Finance Minister Mike de Jong stated that 2016 is the fourth consecutive year the provincial government is presenting a balanced budget, including a potential $264-million surplus. The projected budget surplus has been achieved through various means. Some tactics include cutting public spending, such as removing the transportation subsidy for people with disabilities, and increasing costs to taxpayers in a number of ways, including raising MSP premiums for seniors, childless couples, and people making more than $51,000 per year. While some people will be paying more, many of the top earners will be paying less; the temporary top income tax rate on taxable income over $150,000 has expired after being introduced in 2014. In an email correspondence with the Peak, Dr. Krishna Pendakur of SFU’s Department of Economics wrote: “Roughly speaking, this budget is of apiece with the last 16 years of BC Liberal budgets. “Tt is a low-tax, low- expenditure regime, wherein keeping taxes low even at the price of mediocre publicly provided goods and services is thought to be the right choice.” Post-secondary institutions lie under the umbrella of public services, and so amongst those impacted by budget decisions, students will also be affected. The provincial government is adding $25 million in funding to the Ministry of Advanced Education in 2016, or 2 per cent from the previous year’s budget, an increase from the previous cuts of $16 million in 2014 and $11 million in 2015. According to the official budget report, however, the majority of the additional funding is meant for continuing to honour wage increase agreements for public sector employees in the Ministry of Advanced Education. Despite this year’s budget increase, it appears to be going less to students and more to administration. When it comes directly to students, per-student operating grants have been dwindling over the last 15 years, claims the Federation of Post-Secondary Educators of BC. According to Kathleen Yang, VP External for the Simon Fraser Student Society, “operating grants from the provincial government to SFU have also been in decline since 2010.” It is unclear as of yet how much funding SFU will see from the budget’s post- secondary investment plans. However, the Minister of Advanced Education, Andrew Image via Old Crow Coffee Co. via facebook have invested more in a greater social media presence, Westley Military Surplus has been trying to direct traffic sales online, Rain City Juicery delivers door-to- door, and Quay Pacific Property Management relies on phone and email correspondence between customers, with some employees in offices away from Front Street. All businesses that were contacted made it clear that they have no intentions to close any time soon, with hopes to brace through the next couple of months and emerge victorious by the end of summer. Wilkinson, has a positive outlook on the BC Budget and its intersection with post- secondary institutions. “The system is actually working very well,” said Wilkinson. “We have, as you know, a two per cent cap on tuition growth. We are very comfortable with this cap of two per cent growth on tuition, even though the universities and colleges would like it to be significantly more.” That tuition cap in BC is for domestic students, who pay the fourth-lowest tuition in Canada. However, according to a recent media release from the Alliance of British Columbia Students (ABCS), BC charges the highest interest rate on student loans in the country. What that means for students is that the provincial government earns about $10,000 in interest off the average student loan debt of $35,000. In the same media release, ACBS chairperson added that on top of this exorbitant interest rate, BC is also the only “The future looks bright since we have seen many improvements to the area, and once Front Street is done with its renovations, it will look fantastic! Hopefully it will be drawing in more people in the summer,’ commented Westley Military Surplus. While the hope for success remains, potential potholes still exist. “[Some businesses might still suffer] after [redevelopments] when they have to renew their leases,” added Strong Side Conditioning Gym.“Because of the improvements, all of a sudden, their rent is going to double or triple, leading to them either having to fold...or struggle under lease costs similar to Vancouver. Some would argue that this is how free market economies work—the strong and innovative survive.” When looking towards the future, Rain City Juicery hopes fellow Front Street businesses, especially those who might consider closing shop, will weather the storm at all costs. “We are confident [fora successful outcome]. The Wine Factory has a long standing history with the city. Gems are hidden.” province to not provide grants on the basis of financial need. The province is focusing its post-secondary infrastructure budget of $2.5 billion on brand- new buildings rather than upgrading and maintaining pre-existing ones. Some notable additions are a new $123-million campus for Emily Carr University, and a $19-million trades facility at Selkirk College in Nelson. “The 2.5 billion in investments over 3 years for post-secondary education is going to increase capacity in the long run,” said Dr. Steeve Mongrain, professor in the SFU Department of Economics. “In the short run, however, it will have no impact. The current crop of undergraduate students is unlikely to see any benefit.” In the wake of Ontario’s recent announcement to offer grants to low-income students that are expected to fully cover the tuition costs of most students, BC’s changes to education funding may, as some critics argue, prove anemic.