Hefty government spending and promises to get money back into British Columbians’ pockets were the overarching themes of the 2023-24 provincial budget announced Tuesday (Feb. 28).
Amid a backdrop of a forecast deficit, Finance Minister Katrine Conroy said the budget will help the province weather the storm of inflation and slowing of the market.
READ MORE: Health care, housing and grants top B.C.’s 2023-24 Budget Day promises
Economic growth is forecast to drop to 0.4 per cent in 2023, down from 2.8 per cent last year.
Some of Tuesday’s highlighted pledges include:
- $6.4 billion in new health spending, including $1 billion for mental health and addictions services and previously announced funds to combat cancer
- $317 million for policing and public safety initiatives ,including the already-announced repeat offender program
- $119 million for free prescription contraception
- $558 million for further financial supports to income and disability assistance
- $4.2 billion to better housing with a bulk of the funds – $1.7 billion and $1.5 billion – for new home builds and modular housing, respectively
- An expansion of the climate action tax credit and renters’ rebate with further details to still be announced
- A 10-per-cent increase to the B.C. Family Benefit program
- Previously announced: $1 billion in community grants for municipalities, with more details coming
ALSO READ: 2023-24 B.C. budget draws range of reactions
@ashwadhwani
ashley.wadhwani@blackpress.ca
Like us on Facebook and follow us on Twitter.