Finance minister said B.C. is showing strong growth despite the ongoing pandemic, but the current numbers could be attributed to a 'rebound.'
British Columbia's budget forecast shows a surplus of $5.7 billion, dwarfing the previous estimate and giving the government room to help people facing the ongoing cost-of-living crunch, says Finance Minister Selina Robinson.
“Many British Columbians are feeling squeezed, feeling squeezed to put food on the table and cover costs,” she said at a news conference. “Our strong fiscal position means we can continue to put people first.” Robinson said $2 billion of the added revenue has already been earmarked for cost-of-living measures announced since the summer.
Eby has said the B.C. economy is doing well and the province's budget can cover the cost of his latest plans. BC Liberal finance critic Peter Milobar said it appears the government withheld some relief initiatives until Eby took over from former premier John Horgan. "For those who are struggling to pay their bills, cover the cost of groceries, find affordable housing, and access reliable health care, this budget surplus is an indication that the B.C. NDP government could have been doing more," she said in a statement.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Income tax lifts B.C.'s surplus to $5 billion over estimate, finance ministerFinance Minister Selina Robinson says much of the added surplus comes from higher personal and corporate income taxes, while sales taxes and natural gas…
Read more »
Income tax lifts B.C.’s surplus to $5-billion over estimate, finance minister saysB.C. Finance Minister Selina Robinson says $2-billion of the added revenue has already been earmarked for cost-of-living measures announced since the summer
Read more »
Alberta finance minister 'confident' province will resist potential recession - BNN BloombergAlberta’s finance minister says he’s confident his oil-rich province is in strong shape to resist entering a potential recession next year, despite economic pressures like high inflation, rising interest rates and a volatile global economy.
Read more »
Survey: More Canadians losing sleep over finance and money mattersFor the past few years, Health Canada has issued guidelines related to the number of hours of sleep that Canadians should get every night.
Read more »
Today in Canada’s Political History: Charles A. Dunning appointed Minister of Finance | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »
Experts say government has a key role to play protecting crypto investors from bad actorsAs bankruptcy proceedings reveal the stunning extent of financial mismanagement at a crypto exchange previously heralded as a “white knight” for the industry, experts say recent collapses in the sector do not pose a wider risk to the mainstream financial system. But they warn the Canadian government can no longer take a “swim at your own risk” approach to crypto. Carleton University researcher James Patriquin says governments must take an active role in regulating the crypto sector because ‘there’s only so much a consumer can do to protect themselves against misinformation and deception.’ Photograph courtesy of Carleton University James Patriquin, a PhD candidate at Carleton University who studies cryptocurrency and the political economy of digital finance, told The Hill Times “there’s only so much a consumer can do to protect themselves against misinformation and deception.” He warned against an overtly hands-off approach to crypto, which he said has been the Liberal government’s default to date. That posture has been “something of the default approach” for government and regulators since crypto exchange platforms started becoming popular between 2016 and 2018, he noted. When reports emerged of ‘Freedom Convoy’ supporters looking to use cryptocurrencies to support the movement, the federal government used its emergency powers to make it mandatory for cryptocurrency platforms to register with FINTRAC, the federal government’s intelligence unit. But that process does not cover the full range of regulations that more established financial institutions, such as Canada’s big banks, must abide by. Finance Minister Chrystia Freeland holds a press conference on Feb. 17 to address federal implementation of the Emergencies Act in response to the ‘Freedom Convoy’ protests across Canada. The Hill Times photograph by Andrew Meade “In Canada at least the government seems to be more interested in policing payments that are potentially deviant than using digital finance to encoura
Read more »