Victoria, B.C. –The British Columbia government has unveiled Budget 2025: Standing Strong for B.C., a comprehensive plan aimed at strengthening public services, supporting economic growth, and preparing for potential economic challenges, including the threat of U.S. tariffs.
“With uncertainty on the horizon, it is prudent to protect the essentials and prepare for what comes next by investing in our greatest resource – the people of British Columbia,” said Brenda Bailey, Minister of Finance.
Key Investments in Public Services and Housing
The budget allocates $9.9 billion in new operating funding over three years, with $7.7 billion dedicated to healthcare, education, and social services. This includes:
• $4.2 billion for healthcare improvements, expanding primary care access, reducing wait times, and hiring more healthcare workers.
• $15.5 billion for new hospitals and long-term care facilities over the fiscal plan.
• $370 million for K-12 education, hiring additional teachers, special education staff, and counselors.
To tackle the housing crisis, the budget commits $318 million to BC Builds, aiming to increase affordable rental homes for middle-income families. The Speculation and Vacancy Tax is also being increased to 3% for foreign owners and 1% for Canadian citizens and permanent residents to curb housing speculation.
Additionally, $375 million has been earmarked for rental assistance, nearly doubling support for low-income families and seniors. The Rental Assistance Program’s monthly supplement will rise from $400 to $700, while funding for seniors under the Shelter Aid for Elderly Renters (SAFER) program will increase by 30%.
Infrastructure, Jobs, and Public Safety
The government is making major investments in infrastructure and job creation, including:
• $15.9 billion over three years for transit, highway, and infrastructure improvements.
• $95 million for critical highway and bridge maintenance.
• $30 million to support high-quality jobs in B.C.’s innovation and tech sectors.
• $325 million for public safety, including police funding, training, and programs to combat vandalism and property crime.
In addition, ICBC will provide a $110 rebate to personal and commercial drivers to help with rising costs.
Fiscal Outlook
Despite these investments, B.C. is managing a declining deficit, projected to fall from $10.9 billion in 2025-26 to $9.9 billion by 2027-28.
Minister Bailey emphasized that the budget is designed to protect families, workers, and businesses from economic uncertainties, particularly the potential impact of U.S. tariffs.
“We can’t leave our future to the whims of unpredictable forces beyond our borders,” Bailey said. “This is our opportunity to stand up for B.C. families, workers, and communities to build a stable and sustainable economy for years to come.”