Health care, housing and grants top B.C.’s 2024 Budget Day promises
Finance Minister Katrine Conroy presented the 2023-24 budget Tuesday , saying this year’s budget helps protect people who can’t afford high prices and takes action on issues people care about like finding affordable housing and accessing health care.
Starting April 1, the tax will increase by $15-per-tonne of carbon dioxide each year until it reaches $170 in 2030.The increase means that the tax’s share on a litre of gasoline will rise to 37.4 cents by 2030 from just over 11 cents today. But dark clouds on the economic horizon are not stopping the provincial government from spending another $3.7 billion before March 31 with $2.7 billion requiring legislative approval outside the regular budget process.The rest — $500 million for the renters protection fund announced in January 2023 and $500 million for an additional affordability credit for families— does not require legislative approach because it falls under existing legislation.
Conroy is not fazed. While B.C.’s debt-to-GDP ratio will increase from an estimated 27 per cent in 2023/24 to 31.1 per cent in 2025/26, the province remains in a strong financial shape compared to other provinces, she said, adding that government is taking a measured approach. The government, however, remains vague about how much new housing it plans to build. It speaks of thousands of new units, but does not give a specific figure. Conroy told reporters Tuesday that details will be announced in the future.
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