File photo (Image credit: CFJC Today).

By Grace Lore, MLA for Victoria-Beacon Hill

SOUND OFF

SOUND OFF: Taking action to ease everyday costs

Mar 6, 2024 | 10:30 AM

A FEW WEEKS AGO, our government announced Budget 2024, outlining actions we’re taking to address the cost of living for British Columbians. Despite rising global inflation, we are committed to supporting people here in B.C. by putting more money back into their pockets through new and expanded programs that help address the cost of living.

We know that global inflation and high interest rates have driven up the cost of housing. That’s why our government is taking action to ease everyday costs and make sure people can build a good life in British Columbia.

As Finance Minister of the previous government, Kevin Falcon hiked MSP and ICBC rates on people — and he would do it again.

David Eby and our NDP government are choosing to support people when they need it most.

We know that when you have a family, bills can add up, and we’re committed to making life more affordable for people with families. That’s why we’re introducing a one-year enhancement to the BC Family Benefit, so that 66,000 more families can access the program. In addition to the increase to the benefit that was introduced last year, we’re adding up to $450 more a year for families starting in July.

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To take some pressure off of people’s electricity bills, we’re introducing a BC Electricity Affordability Credit to save people an average of $100 on their power bills over the next year.

We know that inflation is affecting small businesses too, and we’re doubling the exemption rate for the Employer Health Tax from $500,000 to $1 million to cut taxes for the small business owners in our communities.

We’ve heard how helpful the Climate Action Tax Credit has been for British Columbians, and we’re raising rebates again to help families and individuals with rising costs.

We’re continuing to grow our $10-a-day childcare program, ChildCareBC to improve access to quality, affordable childcare across the province. Through this program, over 63,000 families are saving up to $900 per child each month. Access to affordable childcare is one of the biggest challenges that BC families face, and we’ve been steadfast in our commitment to families. When the BC NDP formed government the average cost of child care was $53 a day – today it’s $18.

Global inflation is also affecting the housing market, and we know people are feeling squeezed with increasing rents. This year, we’re supporting people with the new Renters Tax Credit. This credit will put up to $400 a year back in renters’ pockets. With one third of British Columbians renting, this initiative will have a widespread impact on improving housing security in our province.

While the rising cost of living is a problem everywhere, here in B.C. we are helping lower costs by providing rebates for switching to cheaper and more environmentally friendly home heating. We are also expanding access to electric vehicles and active transportation infrastructure, and much more.

Through Budget 2024, we’re building on actions like removing MSP premiums and reducing ICBC rates that support our ongoing work to make life more affordable for people in B.C.

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Editor’s Note: This opinion piece reflects the views of its author, and does not necessarily represent the views of CFJC Today or Pattison Media.