You are working hard and so are we — working to provide savings and opportunities for you and your family to get ahead.
Making life more affordable
Making life more affordable
BC Child Opportunity Benefit
Helping children and families get ahead
Starting October 1, 2020, nearly 300,000 families will benefit from the new BC Child Opportunity Benefit, a tax-free payment for families with children under 18 years of age. The new monthly payments will help families with basic necessities like food and clothing, further reduce child care costs, and make opportunities like sports and arts possible.
How it works:
- Up to $1,600 a year for families with one child.
- Up to $2,600 a year for families with two children.
- Up to $3,400 a year for families with three children.
Making progress where young families need it most
Families are already feeling the benefits. Thousands of new licensed child care spaces are opening, and some families are saving up to $19,200 annually. Finally, parents are getting some much-needed relief, along with the chance to rejoin the workforce and take their careers to the next level.
Our historic investment in child care will give more parents - especially women - the opportunity to fully participate in the workplace. So far, Childcare BC has delivered:
- More than 10,400 new spaces
- 28,000 children have benefited from $10/day child care
- Rates reduced for over 55,000 spaces
- Wage lift for more than 11,000 early childhood educators
- 5,400 bursaries for ECEs
No more MSP premiums
A big tax cut for middle-income British Columbians
2020 marks the first year that British Columbians no longer have to pay MSP premiums, saving individuals up to $900 a year and families up to $1,800 per year.
Homes for BC
Building the homes you can afford
No matter where you live, housing affordability is one of our biggest challenges in B.C.
Budget 2020 continues to support landmark investments in housing construction and affordability measures. As part of our 10-year plan, Homes for BC, your government is investing more than $1 billion a year to build more affordable homes for low- and middle-income British Columbians.
Homes for BC is delivering results. Already, more than 23,000 homes for families, seniors, and individuals are complete or underway in 90 communities. Budget 2020 includes funding for new homes as well as funding for a public inquiry on money laundering. By cracking down on money laundering, stopping fraud, targeting speculators, closing loopholes, and making renting more secure, government is working to make housing more affordable for British Columbians.
More than 100,000 homes will be built over our 10-year plan, creating over 50,000 jobs throughout the province.
Action on homelessness
Because everyone deserves a safe place to call home
Through Homes for BC and TogetherBC, the province’s first-ever poverty reduction strategy, we are opening supportive housing to people most in need to begin to break cycles of poverty.
This is low-cost housing with wraparound services for residents who get the support services they need to move forward.
New investments in Budget 2020 will open an additional 200 supportive homes for people and communities in need. With this new investment, government's commitment to supportive housing now stands at 4,900 supportive housing units. In addition, two new 60-bed navigation centres — shelters with enhanced services — will open for people with complex challenges.
To date, over 2,000 people who were homeless now have safe, secure homes with access to 24/7 support.
New earning exemptions
Reducing poverty is about more than just financial assistance
Budget 2020 takes another step towards lifting 140,000 people out of poverty by increasing earning exemptions for people and families receiving income or disability assistance. This means people can increase their income, stay connected to the workforce and continue building experience that can lead to a good-paying job.
Saving you money on auto insurance
For years, B.C.’s auto insurance rates have soared. We are making public auto insurance work for British Columbians again by removing lawyers and legal costs to increase coverage for medical care and reduce your rates.
Care and treatment benefits for people injured in a crash will increase and new benefits will offer care for those most seriously injured for as long as they need it.
- No basic rate increase in 2020
- Average savings of 20% or $400 per driver starting May 2021