Thread by @j_mcelroy

$274 MILLION SURPLUS

A HUGE EXPANSION OF THE CHILD BENEFIT PROGRAM

ELIMINATION OF STUDENT INTEREST LOANS (FOR THE PROVINCIAL PART)

OTHERWISE PRETTY STATUS QUO

HERE’S YOUR B.C. BUDGET THREAD

B.C. is forecasting a $274 million surplus for the 2019/2020 fiscal year, and an estimated surplus for $374M for the current fiscal year.

“British Columbia is thriving,” said Finance Minister Carole James, announcing that B.C. led the province is economic growth yet again.

The big announcement in the budget is the B.C. Child Opportunity Benefit, beginning in October 2020.

About 60 per cent of families with kids will get up to $1,600 a year for their first child (it tops out at $97K), and runs for every year a child is under 18.

Other funding announcements?

- $50 more/month for disability and welfare recipients
- A dedicated $100 million/year fund from gaming revenue available to First Nations communities
- $180/month extra for foster parents

Things NOT in the budget?

- The $400 renters’ rebate (which James claims is still coming!)
- Major steps forward on $10/day childcare
- Details on the clean energy/poverty program

Biggest risks to the surplus?

- They’re forecasting losing just $50 million on ICBC, which is, um, ambitious!
- Also forecasting a “normal” year when it comes to wildfire costs
- Also presuming funds from the property transfer tax won’t go down

There’s your basic summary, but lots more coverage to come from me, @anitabathe, @cbctanya, and @liam_britten the rest of the day.

Now time to type some more until my fingers fall off.

Here's our first story on today's provincial budget: cbc.ca/news/canada/br…

Can I offer you in a budget listicle?

Here are 10 key takeaways from B.C. balanced budget.

cbc.ca/news/canada/br…

The song me and @anitabathe have been singing throughout the budget lockup: