The NDP minority government will keep B.C. finances in the black for the next three years, thanks to strong economic growth, says Finance Minister Carole James.
That’s not how
Cariboo-Chilcotin MLA Donna Barnett sees it.
“The key feature is $5.5 billion in tax hikes. All these great things they’re gonna do but there will be $5.5 billion in tax hikes to pay for the housing, the daycare, all the giveaways and there is no $10 a day childcare and no renters rebate in this budget.”
Here are some of the top takeaways according to the Black Press reporters who were part of the budget lock-up.
Childcare
On the childcare side, starting April 1, 2018, up to 50,000 families will benefit from a new childcare fee reduction program. Families with pre-tax incomes of $45,000 and under will receive the full day care benefit.
Families that make up to $111,000 will receive a portion of the subsidy.
By 2020, the government predicts that 86,000 families will benefit from the child care benefit with up to $1,250 a month in childcare cost relief.
The budget also includes creating 22,000 new licensed child care spaces in the province.
Housing
$1.6 billion for affordable housing over three years — to build 114,000 units in next decade.
An increase of approximately $800 per year in rental assistance for low-income working families.
Medical
Services Plan
Starting Jan. 1 2018, Medical Services Plan (MSP) premiums were cut in half with savings of $450 per year for individuals and $900 for families.
MSP premiums are to be phased out, and instead, the government will impose a payroll tax on businesses. The “employer health tax” will be introduced Jan. 1, 2019 for businesses with payrolls more than $500,000 a year.
Businesses with payrolls more than $1.5 million will pay a 1.95 per cent tax rate.
$548 million for
seniors’ care
Half a billion dollars over three years will go toward improving conditions in senior care homes, most of which do not meet the province’s standard of daily care hours per patient.
B.C.’s regional health authorities have been told they will be funded to upgrade part-time care aide positions to full time in the fiscal year starting April 1.
Due to a tight press deadline, further comments will be in next week’s paper.