Finance Minister Mike de Jong presents the current budget in February 2014. He has promised another surplus forecast for the next one.

Relief coming for rich, poor in B.C. budget

Tax hike for incomes over $150,000 ends, Finance Minister Mike de Jong looks at ending child support payment clawback

B.C. will likely be the only province in Canada to report a balanced budget for the current year and project surpluses for the next three years, Finance Minister Mike de Jong says.

In a briefing for reporters on what to expect when the annual budget is presented Feb. 17, de Jong said the surplus for the current year will be larger than the $444 million forecast in November. Corporate and personal income tax has been stronger than expected, but there is no certainty that will continue into the new fiscal year that begins April 1.

The second straight surplus after billions in deficits the previous four years will be used to pay down debt, but there is some room for helping poorer people, de Jong said. He hinted that this may include a change to the long-standing practice of deducting spousal child support payments from social assistance and disability payments to single parents.

“There are some areas where we believe there have been pressures on the programming side,” de Jong said. “We have a little more ability to deal with them and relieve some of that pressure, to assist people in greatest need.”

NDP house leader Mike Farnworth said he is hopeful the child support clawback policy will be changed after more than a year of protest by the opposition. And he said the government isn’t telling the whole story about balancing the budget using “tax increases by another name.

“You’re going to see higher Medical Services Plan premiums, higher ICBC rates, we’re already seeing higher fees for camping,” Farnworth said.

The next budget will also provide tax relief for the wealthiest B.C. residents, as a two-year increase on incomes more than $150,000 a year comes to an end. De Jong imposed the 2.1 per cent hike in his pre-election budget in 2013, after then-NDP leader Adrian Dix promised a similar move to help balance the books.

The recent plunge in oil prices has had a major impact on revenues to Alberta, Saskatchewan and Newfoundland, but B.C. has largely escaped that due to continued gas production but little oil from B.C. petroleum fields.

De Jong emphasized that with the continued glut of shale gas produced across North America, it remains an urgent priority to develop liquefied natural gas exports to Asia before B.C. revenues fall further for lack of sales.

 

Just Posted

Province rejects criticism from Saanich councillor over McKenzie Interchange

Transportation ministry says project will ‘significantly lower’ greenhouse gas emissions

UPDATE: Father on trial for murder describes being ‘tackled’ and ‘stabbed’ in Oak Bay apartment

Oak Bay father takes stand in his defense for December 2017 deaths of young daughters

Police rule out foul play in death of man found in Saanich

The B.C. Coroners Service will now conduct an investigation

West Shore RCMP snag suspected thief with bait bike

GPS-equipped bike leads police to arrest suspect in Langford

New police force in Surrey must avoid VPD, RCMP errors made in Pickton case: Oppal

Boots are scheduled to be on the ground by spring 2021

Greater Victoria wanted list for the week of Aug. 23

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Should there be a ban on gas-powered leaf blowers?

We’ve all heard them, and most likely cursed them under our breath.… Continue reading

Striking Western Forest Products workers could lose benefits in September

Union, forest company at odds over Vancouver Island benefit payments as strike enters third month

Conan turns to the Property Brothers for tips on buying Greenland

Jonathan Scott suggests removing glaciers and mountains to bring in ‘more natural light’

Forests minister visits B.C. town rocked by multiple mill shutdowns

A third of Mackenzie turns out for rally, not much to cheer about

B.C. music teacher accused of sexual misconduct involving girls

Police believe other victims could be out there after the arrest of Lamar Victor Alviar

Most Read