The budget also includes a home flipping tax to deter real estate speculators, as well as a commitment to provide one cycle of free in vitro fertilization to anyone who wants to start a family.
Families and small business operators in British Columbia are expected to benefit in an election-year budget that boosts spending, but forecasts a growing deficit of more than $7.9 billion and economic growth of less than one per cent.
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 that will save households an average $100, she said. The budget forecasts slowing economic growth of 0.8 per cent this year, followed by growth of 2.3 per cent in 2025. The budget included funding for previously announced projects on Vancouver Island, many of which saw cost increases from their original announcements.
A new child-care space at North Island College is planned at a cost of $15 million. It will provide 75 spaces in a region the province says has a high demand for child care and will include spaces for infant/toddler care, school age care and care for kids who need extra support. The project is currently in a procurement phase and anticipated to be complete in 2025.
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