Broad tax breaks, targeted spending increases in B.C. pre-election budget
VICTORIA — British Columbia’s government is staking its re-election on a nearly $1 billion cut in medical service premiums, a small business tax reduction and carefully targeted spending increases on education, health and child welfare in a 2017-18 budget that projects a fifth consecutive surplus.
Finance Minister Mike de Jong said Tuesday the government will move to eliminate unpopular medical service plan premiums, starting with a 50-per-cent cut next year that will see a family earning up to $120,000 annually saving up to $900 in 2018.
FURTHER READING: Highlights of the 2017-18 British Columbia budget
Last week, the government announced it was in the financial position to pay back British Columbians after years of penny pinching, and de Jong said it identified the medical premiums as having the greatest impact for families.