From CHEK TV:
To fund new commitments in the budget, such as an increase in the earnings exemption for social assistance, the government pointed to the improved revenue forecasts as well as changes to key revenue sources.
These changes include an increase in the individual income tax rate from 14.7 per cent to 16.8 per on taxable income over $150,000. James said this increase was brought in by the former Liberal government a few years ago but was then clawed back.
“We’re living up to our promises and our commitments,” James said.
From CBC News:
B.C.’s new. government will spend $51.9 billion for this fiscal year to support ithe NDP’S stated goal of making the province more affordable for residents.
It’s a balanced budget but nearly $2 billion more than the B.C. Liberals planned to spend in their February budget.
“It’s a budget that puts people first,” said B.C. Finance Minister Carole James who began her presentation from Victoria on Monday by talking about being raised by her grandparents, who were extremely careful with their money; every dollar was spent with purpose.
The plan rides a hot economy and relies on higher than expected surpluses to pay for policies and programs.
They include the construction of new affordable rental housing, modular housing for homeless people, a 50 per cent cut in MSP premiums and an increase of $100 per month for people on income and disability assistance.
From the Globe & Mail:
British Columbia’s new NDP government has imprinted its election campaign promises on the current budget, with an updated fiscal plan that begins to more broadly distribute the benefits of the province’s strong economy.
After 16 years of Liberal rule, Monday’s budget marks the first pivot point as the New Democrats reshape the government’s role in the lives of British Columbians, with massive investments in education, daycare and affordable housing promised in the coming years.
However, key election promises — including a $10-per-day childcare program and a $400 subsidy for renters — were left for a later date.