Prepare yourselves.
We will find out from financially troubled ICBC today exactly how much the crown corporation would like to increase our insurance rates.
Speaking on NL’s Inside #bcpoli Premier John Horgan says the fiscal dumpster fire at ICBC has been much worse than anticipated and it is taking a lot of energy and a tonne of taxpayer money to deal with it.
“I don’t want to spend a lot of time blaming the last group. They did ignore a pretty serious problem and they were going to push it past the next election to deal with it. That is not how I roll. When problems emerge we need to address them. If we are going to have a corporation to protect us with public auto insurance as it was designed to do it needs to be on a sound financial footing.”
Horgan says the province is working to ensure all the crown corporations are doing what they were designed to do.
“Which is to reduce costs for people and make sure that they have quality services as a result. That has been a challenge with three of the four of them. BC Ferries is a different animal altogether and we are grappling with that as well. Ultimately my message to British Columbians is we are going to keep rates as low as we possibly can but we need to be mindful of the challenges that we inherited.”
ICBC, which is projected to lose almost another billion dollars this year, will have to get the BC Utilities Commission to sign off on any rate hike.