BC Budget 2017 Announced on February 21, 2017
The BC Ministry of Finance releases its 2017 budget, summarizing these points:
Finance Minister Michael de Jong has delivered a fifth consecutive balanced budget that delivers the dividends of a strong and diversified economy and prudent fiscal management by cutting costs for middle-class B.C. families, investing in priority programs and services, and promoting a competitive, job-creating economy. Some highlights are:
• Budget 2017 is cutting costs for middle-class B.C. families, investing in priority programs and services, and promoting a competitive, job-creating economy, including:
o Funding new investments for classrooms, mental health services, and other supports for families, children, and those most in need.
o Investing a record $13.7 billion over three years in new and upgraded provincial taxpayer-supported infrastructure to support services and jobs.
o Leaving nearly $1 billion more in the pockets of B.C. families by cutting Medical Service Plan premiums in half and starting to eliminate them.
• Beginning Jan. 1, 2018, MSP premiums will be reduced by 50% for households with an annual net income of up to $120,000. Following this change, more than two million British Columbians will pay no premiums and a further two million will see a 50% reduction in their premiums – cutting premiums near to levels set in 1993.