The provincial government has unveiled Budget 2025: Standing Strong for B.C., a carefully planned strategy aimed at protecting jobs and public services, while preparing the province’s economy to handle potential impacts from unjustified tariffs.
“We must protect the essentials and invest in our greatest resource — the people of British Columbia,” said Brenda Bailey, Minister of Finance. “While B.C. is better equipped to weather the impact of U.S. President Donald Trump’s tariffs compared to other provinces, the effect will still be significant. This budget helps us navigate these uncertain times and ensures we continue to support both people and businesses as we work towards a stronger, more self-sufficient future.”
Budget 2025 includes key investments:
- $9.9 billion in operating funding over three years, including $7.7 billion for health care, education, and social services.
- $4 billion annually in contingency funds to cover unexpected costs, including tariff response measures.
- $4.2 billion to improve health care services, reduce wait times, and build and upgrade hospitals.
- $15.5 billion in capital funding for health care infrastructure, including hospitals, long-term care facilities, and cancer centres.
The budget also outlines investments to support the education sector, with $370 million over three years for K-12 education and $4.6 billion for capital funding to build and upgrade schools.
To tackle housing challenges, Budget 2025 allocates $318 million over three years for the BC Builds program, aimed at delivering more rental homes for middle-income families. The Speculation and Vacancy Tax will increase to 3% for foreign owners and 1% for Canadian citizens and permanent residents.
In response to rising costs, the Rental Assistance Program will nearly double, with $375 million in additional funding, raising the average monthly supplement from $400 to $700. More seniors will also receive support through the SAFER program.
Other key investments include:
- $325 million over three years for safer communities, including funding for police training and justice programs.
- A $110 rebate for personal and commercial drivers to help with costs amid an uncertain economic environment, thanks to stronger-than-expected returns from ICBC.
- Expanded funding for housing and support programs for people living outdoors.
The budget aims to create a stable, sustainable economy, with declining deficits projected from $10.9 billion in 2025-26 to $9.9 billion in 2027-28.
“This is our chance to stand up for B.C. families and workers, to build a resilient economy for the future,” Bailey concluded.
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