B.C. to fight inflation with increased credits and benefits, rent increase cap
The B.C. government will increase both the Climate Action Tax Credit and newly minted BC Family Benefit and cap rent increases at two per cent as British Columbians continue to struggle with the rising cost of living caused by inflation.
Horgan announced a one-time “enhanced” Climate Action Tax Credit, which will be paid out in October, will be raised by as much as $164 per adult and $41 per child for low- to moderate-income families. That means a family with two kids will see up to $410 more than they normally do. The increase means a two-child low- to moderate-income family will get up to $350 more on their family benefit payment.
Instead, landlords will have a two per cent cap placed on rent increases, meaning renters paying $2,000 per month will save up to $816 next year.
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