Cost of Living#

The cost of living is a major concern for many British Columbians, especially in the wake of the COVID-19 pandemic and the global inflation. The rising costs of housing, food, transportation, health care, and other essential services have put a strain on people’s budgets and well-being. However, the provincial government has taken action to help people cope with the effects of rising costs and improve their quality of life. The StrongerBC plan sets out a vision for strengthening B.C.’s economy and society by delivering inclusive and clean growth.

The StrongerBC plan outlines several initiatives that will help lower the cost of living for British Columbians, such as:

  • Expanding child care savings to reduce fees for families with children in eligible preschool and before- and after-school child care programs.

  • Improving access to fresh, local food by increasing funding for food production and distribution, supporting local food banks, and enhancing school food programs.

  • Raising the BC Family Benefit to help people with the rising cost of living due to global inflation.

  • Enhancing the Climate Action Tax Credit to help people with the effects of a changing climate and the rising federal carbon tax.

  • Providing more help for people facing housing challenges by increasing shelter rates, expanding income and disability assistance programs, and supporting affordable housing initiatives.

  • Keeping ferry fares affordable by investing $500 million to keep fare increases low1. No ICBC rate increase until 2025 to prevent unexpected hikes in basic auto insurance rates.

  • No interest on student loans to make education more accessible and affordable.

These initiatives will help improve access to quality and timely services, enhance financial security and stability, reduce administrative costs and inefficiencies, support innovation and research, and create more opportunities for economic growth.

The StrongerBC plan is a comprehensive strategy for building a stronger B.C. that works for everyone. By putting people first delivering clean inclusive growth building stronger B.C . everyone ,the provincial government hopes to achieve its long-term goals of making life better improving well-being enhancing prosperity advancing sustainability .