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What you need to know about the B.C. government’s 2023 budget

Big spending on health, community grants and ways to curb inflation
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Minister of Finance Katrine Conroy tables her first budget in the legislative assembly at legislature in Victoria, Tuesday, Feb. 28, 2023. THE CANADIAN PRESS/Chad Hipolito

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:

  1. $6.4 billion in new health spending, including $1 billion for mental health and addictions services and previously announced funds to combat cancer
  2. $317 million for policing and public safety initiatives ,including the already-announced repeat offender program
  3. $119 million for free prescription contraception
  4. $558 million for further financial supports to income and disability assistance
  5. $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
  6. An expansion of the climate action tax credit and renters’ rebate with further details to still be announced
  7. A 10-per-cent increase to the B.C. Family Benefit program
  8. 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

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About the Author: Ashley Wadhwani-Smith

I began my journalistic journey at Black Press Media as a community reporter in my hometown of Maple Ridge, B.C.
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