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What you need to know about the B.C. government’s 2023 budget

Big spending on health, community grants and ways to curb inflation
Minister of Finance Katrine Conroy tables her first budget in the legislative assembly at legislature in Victoria, Tuesday, Feb. 28, 2023. THE CANADIAN PRESS/Chad Hipolito

Hefty government spending and promises to get money back into British Columbians’ pockets were the overarching themes of the 2023-24 provincial budget announced Tuesday (Feb. 28).

Amid a backdrop of a forecast deficit, Finance Minister Katrine Conroy said the budget will help the province weather the storm of inflation and slowing of the market.

READ MORE: Health care, housing and grants top B.C.’s 2023-24 Budget Day promises

Economic growth is forecast to drop to 0.4 per cent in 2023, down from 2.8 per cent last year.

Some of Tuesday’s highlighted pledges include:

  1. $6.4 billion in new health spending, including $1 billion for mental health and addictions services and previously announced funds to combat cancer
  2. $317 million for policing and public safety initiatives ,including the already-announced repeat offender program
  3. $119 million for free prescription contraception
  4. $558 million for further financial supports to income and disability assistance
  5. $4.2 billion to better housing with a bulk of the funds – $1.7 billion and $1.5 billion – for new home builds and modular housing, respectively
  6. An expansion of the climate action tax credit and renters’ rebate with further details to still be announced
  7. A 10-per-cent increase to the B.C. Family Benefit program
  8. Previously announced: $1 billion in community grants for municipalities, with more details coming

ALSO READ: 2023-24 B.C. budget draws range of reactions


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About the Author: Ashley Wadhwani-Smith

I began my journalistic journey at Black Press Media as a community reporter in my hometown of Maple Ridge, B.C.
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