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

Police seek witnesses to fatal weekend accident

Wayne Kernachan was struck by a vehicle while responding to an accident

Forestry workers set to begin job action in Kootenays

Operations in Castlegar, Cranbrook, Galloway, Elko, Radium, Golden may see job action this week.

Castlegar pastors find life in wheelchair a challenge

The men found the obstacles were both physical and mental.

Columbia Avenue paving scheduled for weekend

Paving on Castlegar’s main thoroughfare will take place in a few days, weather permitting.

Tour company plans shuttle service to Kelowna for stranded travellers

SMT Kootenay wants to help travellers get in and out of ‘Cancelgar’ in winter months

Josie Hotel will be ready on opening day, says management

West Kootenay’s first ski-in, ski-out boutique hotel to open this month

Laine scores 3 as Jets double Canucks 6-3

Injury-riddled Vancouver side drops sixth in a row

Deportation averted for Putin critic who feared return to Russia

Elena Musikhina, a vocal critic of the Kremlin, has been granted a two-year visitor’s permit in Canada

B.C. to allow Uber-style ride hailing services to operate in late 2019

Fee will be applied to fund options for disabled people

Auditor general takes aim at Liberals’ fighter-jet plan

Suditor general Michael Ferguson is about to release a new report on Canada’s attempts to buy new fighter jets

B.C. couple converts ambulance into a traveling home

The Revelstoke couple plan on touring B.C. ski hills then driving to Mexico

Cyclist defecates, throws own poop at car following B.C. crash

Man defecates in the street before throwing it at a driver locked in her vehicle

Jamie Koe, other curlers kicked out of bonspiel for being too drunk

‘You don’t kick around other players’ bags, it’s disrespectful and we expect better of our players’

Homicide victim found under B.C. bridge identified as Hells Angels member

Chad John Wilson was one of four men arrested in Spain in 2013 on allegations of smuggling cocaine.

Most Read