B.C. election budget boosts family benefits as deficit soars to $7.9 B

VICTORIA — Families and small businesses in British Columbia will benefit from an election-year budget that boosts spending, while forecasting a ballooning deficit of $7.9 billion and economic growth that falls below one per cent.
The budget delivered by Finance Minister Katrine Conroy also includes a flipping tax on housing to deter short-term market speculators.
Conroy says B.C. is an economic leader in Canada but a slowing economy and increasing housing and grocery costs mean people are stretched and need help.
She says the budget includes a one-year boost to the B.C. Family Benefit giving eligible low-and-middle-income families an extra $445 over a year on average, as well as a one-time electricity credit saving households an average of $100.
Conroy says increasing the payroll threshold for the Employer Health Tax means an estimated 90 per cent of businesses will now be exempt.
She also says one cycle of free in-vitro fertilization will be provided to anyone who wants to start a family, regardless of income, “who they love, or whether they have a partner.”

BC United slammed the budget, and what they call it’s “reckless spending,” including a record $7.9 billion deficit.

“Budget 2024 racks up the largest deficit in B.C. history to maintain a status quo that is simply not working for people across this province,” said BC United Leader Kevin Falcon.