B.C. Finance Minister Carole James announces changes to strata corporation laws at the B.C. legislature, June 23, 2020. (B.C. government)

B.C. Finance Minister Carole James announces changes to strata corporation laws at the B.C. legislature, June 23, 2020. (B.C. government)

COVID-19: B.C. moves to allow three years of budget deficits

Carole James and cabinet to take 10-per-cent pay cut

The B.C. government has moved to give itself room for up to three years of budget deficits, with $5 billion in extra spending already committed for the current year to deal with the effects of the COVID-19 pandemic.

Finance Minister Carole James introduced legislation June 24 that authorizes deficit spending that is a certainty for the current fiscal year and likely to extend further, with relief payments, rent supplements and deferred sales and other tax payments throwing the province’s budget deep into the red.

The legislation makes official a $1,000 one-time, tax-free payment to those who have lost work due to COVID-19 restrictions and qualified for employment insurance. It also extends eligibility to those who filed federal employment insurance claims between March 1 and March 15. Almost 600,000 B.C. residents have been approved for the B.C. payment since applications opened in May.

There is no change to the existing provision that running a deficit in any B.C. government ministry results in a pay cut of 10 per cent for the minister involved. That means James and the rest of cabinet will see a reduction in their salaries, which are currently $166,536.29 per year.

Basic compensation for MLAs is currently $111,024.19, with a 50 per cent premium for serving in cabinet or as Speaker. Premier John Horgan gets a 90 per cent premium on basic pay, bringing his current salary to $210,945.96.

FEB. 18: James tables balanced budget with new top tax bracket

APRIL 23: James prepares relief payments, rent subsidies

The new legislation, called the Economic Stabilization Act, formalizes moves the government has made since the pandemic began, including postponing commercial property tax payments until Oct. 1. Filing and paying employer health tax, provincial sales tax, hotel tax, carbon tax, motor fuel tax and tobacco tax has also been deferred to Sept. 30.


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

BC legislatureCoronavirus

Just Posted

Aldergrove journalist Dean Broughton and his father, Bert. (Special to The Star)
Leave it to Aldergrove resident to tell your living legacy

Journalist Dean Broughton found the importance of family stories by conversing with his father

Langley’s Brie King, seen here playing as a TWU Spartan, was a standout for Canada Saturday, June 12, as the team downed Serbia 3-1. (file)
John Diefenbaker and Dwight Eisenhower at the signing of the Columbia River Treaty, January 1961. (White House Photo Office)
Painful Truth: All elections are a roll of the dice

A federal election is coming, and anything could happen

A worker clears out damaged fixtures from a front office of Coast Capital Savings credit union in Brookswood 4145 - 200th Street on Saturday, June 12, after a car knocked out an exterior roof support beam and smashed in a window. (Dan Ferguson/Langley Advance Times)
Car takes out front window of credit union in Brookswood

Witnesses say it happened while the driver was trying to park

Susan Cairns (left) during one of the school foundation’s annual fundraisers. Now, on behalf of the organization, she’s released a statement of support in the wake of the 215 children’s bodies discovered at a former residential school in Kamloops. (Langley Advance Times files)
Langley School District Foundation called to action by ‘atrocity’

Board and executive director describe ordeal as a ‘travesty’, and vow to ‘be there’ with support and aid

At an outdoor drive-in convocation ceremony, Mount Royal University bestows an honorary Doctor of Laws on Blackfoot Elder and residential school survivor Clarence Wolfleg in Calgary on Tuesday, June 8, 2021. THE CANADIAN PRESS/Jeff McIntosh
‘You didn’t get the best of me’: Residential school survivor gets honorary doctorate

Clarence Wolfleg receives honorary doctorate from Mount Royal University, the highest honour the school gives out

The Great Ogopogo Bathtub Race has been held in Summerland as a fundraising event. Do you know which Canadian city introduced this sport? (Black Press file photo)
QUIZ: A summer’s day at the water

How much do you know about boats, lakes and water?

Two-year-old Ivy McLeod laughs while playing with Lucky the puppy outside their Chilliwack home on Thursday, June 10, 2021. (Jenna Hauck/ Chilliwack Progress)
VIDEO: B.C. family finds ‘perfect’ puppy with limb difference for 2-year-old Ivy

Ivy has special bond with Lucky the puppy who was also born with limb difference

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

A million-dollar ticket was sold to an individual in Vernon from the Lotto Max draw Friday, June 11, 2021. (Photo courtesy of BCLC)
Lottery ticket worth $1 million sold in Vernon

One lucky individual holds one of 20 tickets worth $1 million from Friday’s Lotto Max draw

“65 years, I’ve carried the stories in my mind and live it every day,” says Jack Kruger. (Athena Bonneau)
‘Maybe this time they will listen’: Survivor shares stories from B.C. residential school

Jack Kruger, living in Syilx territory, wasn’t surprised by news of 215 children’s remains found on the grounds of the former Kamloops Indian Residential School

A logging truck carries its load down the Elaho Valley near in Squamish, B.C. in this file photo. THE CANADIAN PRESS/Chuck Stoody
Squamish Nation calls for old-growth logging moratorium in its territory

The nation says 44% of old-growth forests in its 6,900-square kilometre territory are protected while the rest remain at risk

Flowers and cards are left at a makeshift memorial at a monument outside the former Kamloops Indian Residential School to honour the 215 children whose remains are believed to have been discovered buried near the city in Kamloops, B.C., on Monday, May 31, 2021. THE CANADIAN PRESS/Darryl Dyck
‘Pick a Sunday:’ Indigenous leaders ask Catholics to stay home, push for apology

Indigenous leaders are calling on Catholics to stand in solidarity with residential school survivors by not attending church services

Most Read