The BC Government has delivered the Balanced Budget for 2017 in the Victoria Legislature.
NEW: #BC’s fifth consecutive balanced budget delivers the dividend of a strong economy, https://t.co/vUCOgANloi #BCBudget pic.twitter.com/WaXr0P0oPF
— BC Government News (@BCGovNews) February 21, 2017
Finance Minister Michael De Jong says the province has made a record-breaking number in infrastructure to support services and jobs.
“The three-year fiscal plan includes taxpayer-supported capital spending in the amount of $13.7 billion, the highest level ever reflecting investments in roads, schools, hospitals, and public safety.”
De Jong also announced starting January 1st, 2018, the government will cut MSP premiums in half for British Columbians making less than $120,000 per year, while families with net incomes of less than $35,000 will see their premiums eliminated entirely.
#Breaking: #BC to eliminate MSP premiums. First step: 50% cut for families earning up to $120K, https://t.co/rqFdBGpJi0 #BCBudget pic.twitter.com/mczNR0Q0i1
— BC Government News (@BCGovNews) February 21, 2017
“Budget 2017 represents this government’s fifth-consecutive balanced budget, showing the benefits of a fiscal plan that includes steady, solid growth and managed spending.”
The province will also be providing nearly $800 million over three years for programs that support families and individuals in need for 2017, while almost $200 million will go to income assistance rates for people with disabilities.
Minister De Jong says it’s important to show appreciation.
“There is an army of dedicated women and men who work hard to provide services to our most vulnerable citizens. They spend their careers trying to connect people with the services they need most.”
Small business’ will also see a cut in their corporate income tax rate to 2% from 2.5%, allowing them to compete internationally and stay optimistic in the global trade climate.
#Breaking: Big news for business – small business tax rate reduced to 2% on April 1. 2nd lowest in Canada, https://t.co/rqFdBGpJi0 pic.twitter.com/WQxJkC8isD
— BC Government News (@BCGovNews) February 21, 2017