It's challenging for business to be innovative and to grow in an environment that is not conducive to that. One of the challenges we face and that I mentioned is the overall tax burden and the complication of the tax system.
In addition to what's happening federally, we've just been told that we have a 30% plus increase in our WorkSafe costs that will be coming in November. We're having minimum wage increases. We have the highest level of personal taxation for high-income earners here in the province of New Brunswick. It's a challenge to incentivize people to want to do business here when you're facing these extreme costs. Our economy is sluggish and it is a difficult time for businesses to have the confidence to invest.
That being said, we've recently done a survey with Corporate Research Associates, CRA, and they're telling us that the business confidence here in Fredericton is doing a little better but we need to create that environment where businesses can succeed. I think businesses are willing, businesses are excited. We have people who are coming up with innovative and creative ideas, and businesses they want to launch. We have a new growth plan that the Province of New Brunswick has put forward. There are certainly areas, such as cybersecurity, that our business community wants to grow, but we need to have that environment in which they can grow and prosper, and taxation is an issue, for sure.