Victoria – To help with the day to day costs of basics in the Province, the Horgan Government made these announcements on Wednesday:
Instead of allowing rent increases equivalent to inflation, government is placing a 2% cap on rent increases for 2023. For a renter paying $2,000 in rent, this will mean saving up to $816 next year.
In January, February and March 2023, the BC Family Benefit will rise by as much as $58.33 per child, for each month. A family with two children will receive up to $350 from this top-up.
The Province is increasing the next Climate Action Tax Credit payment, boosting the BC Family Benefit and capping rent increases below inflation, a package estimated to be worth up to $1,500 for a family of four. In October 2022, the maximum amount for the Climate Action Tax Credit for low- and moderate-income British Columbians will be enhanced by up to an additional $164 per adult and $41 per child. This means a family with two children can receive up to an additional $410.
Quick Facts:
- No one needs to apply for the enhanced Climate Action Tax Credit and BC Family Benefit.
- The temporary increases will be automatically received if income tax filing is up to date.
- These measures build on actions taken to reduce costs, save people money and build a stronger B.C.
- Since 2017, the B.C. government has worked to significantly reduce child care and car insurance rates, help families with the cost of school meals and supplies, deliver free transit for children, increase the minimum wage and income and disability assistance rates, and eliminated people’s medical services premiums.
