Forgot username or password?  |  Create a CME account


Subscribe
To receive ongoing updates, business intelligence, event notifications, industry-leading news and valuable partner content from us, we need your direct consent.
Email *
First Name
Last Name
Company Name
* Required Field

B.C. budget funds 3,500 teachers, homeless supports

Published by Glenda Beaulieu on September 18, 2017

VICTORIA -- British Columbia's minority New Democrat government says it is starting to build the province all residents want, tabling a budget update that promises to hire 3,500 teachers and build thousands of rental units and homes for the homeless.

Finance Minister Carole James said Monday the government's first budget document puts people first after 16 years of Liberal rule where families, students and seniors struggled.

The government forecasts a surplus of $246 million this year and economic growth of 2.9 per cent, up from the 2.1 per cent projected in last February's budget.

The New Democrats formed a minority government last June after the May election did not produce a clear winner in the 87-seat legislature. The NDP, with 41 seats, and the Greens with three seats, combined their seat totals to oust the Liberals in a non-confidence vote.

"The budget really does invest in people to invest in B.C.," James said in a briefing before introducing the budget in the legislature.

"I am a big believer that a budget does not stand alone," she said. "A budget is a tool to make sure the people of this province who built our economy benefit from the economy."

The updated budget confirmed many of the NDP's spring election promises, but other major pledges appeared to be under review and considered works in progress.

B.C.'s carbon tax, currently at $30 a tonne, will increase by $5 per tonne on April 1, 2018, James said. The $5 annual increases ensures B.C.'s carbon tax reaches the federal goal of $50 a tonne a year before Ottawa's 2022 deadline for a set carbon price agreement across Canada.

She also said the carbon tax will no longer be required to be revenue neutral and the expected $1.2 billion in revenues this year will fund government programs rather than tax measures.

"We will use carbon tax revenue to support families and fund green initiatives to address our climate action commitments," said James.

View video

Dirk Meissner, The Canadian Press
Published Monday, September 11, 2017 4:24AM EDT
Last Updated Monday, September 11, 2017 8:14PM EDT

Found in: tax plan tax Manufacturing Competitiveness Competitivness BC Budget

Ottawa Web Design

National Office

Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan