There is some interesting news in the latest provincial budget but nothing earth-shattering.
First the nitty gritty the budget posts a $274 million dollar surplus this fiscal year, $287 million next, and $585 million by 2021/22.
As for revenue, PST revenues are growing, while gas, tobacco, and property transfer taxes are forecast to be flat or near to it.
Now for what’s is in the budget, Kamloops get some mentions namely around the patient care tower at Royal Inland Hospital, as well as transit technologies, and the CNG transit bus fleet.
As for the capital needs in education, there is no specific mention of any school project – but – the budget has allocated a whopping $675-million increase for capital projects, $550-million of which will be for public schools.
Some other Kamloops tidbits – liquor stores will soon have to track waste diversion, ensuring only things absolutely needing to go to landfills does.
As well the Kamloops Liquor Distribution Centre will be upgraded.
And in transportation, $13-million has been spent so far stabilizing Ten Mile Slide on Highway 99 between Lillooet and Kamloops, but $47-million more will be spent for a project that is expected to finish in 2020
On the four laning of the Trans Canada east of Kamloops, $648-million is budgeted through 2021 for the work from Kamloops to the Alberta border, ministry officials say this is an increase of several hundred million dollars for the work.
As for the big-ticket items – the province is investing $1-billion in child care over three years a further step towards its $10 a day child care promise. That’s about a $300-million increase from money already promised in the last budget.
The budget also wipes out interest on BC student loans both past and present.
Families will also see some more money coming their way first with the BC Child Opportunity Benefit beginning in October of 2020. Families with one child will get $1,600 a year, two kids gets you $2,600 dollars, and three kids will get you $3,400 until the kids turn 18.
Families will also get $400 beginning in July for carbon tax relief.
There are some troubling signs on the housing front with Property Transfer tax revenues declining and new housing starts down by about a third. Finance minister Carole James is cautiously optimistic about taming the market, but she adds she is also cautious about not over moderating markets.
Another big budget plank is $3-billion spent over 25 years for reconciliation with First Nations including aboriginal communities being included in gaming grant revenues, but important to note the province says there will be no change in what local governments get.
There is also now a homelessness action plan with $76-million earmarked to help and $111-million is going to the wildfire front to combat and prevent fires.
The vaunted CleanBC plan to fight climate change and reduce greenhouse gases is getting $902-million to spur clean energy and provide incentives to get people into more climate-friendly vehicles.
