Premier John Horgan announced three temporary aid packages during a Wednesday, Sept 7 news conference in Langford, B.C. (BC Government)

By NanaimoNewsNOW Staff

inflation aid

Premier Horgan announces aid package to combat rising inflation

Sep 7, 2022 | 2:45 PM

VICTORIA — A trio of temporary measures aimed at BC’s lower income earners is designed to offset increasing living expenses.

Premier John Horgan announced the package during a Wednesday, Sept. 7 news conference which featured a one-time increase early next month to the Climate Action Tax Credit.

He said the quadrupled fund geared toward lower and middle-income earners grants a family of four the ability to receive up to an additional $410.

“$500 million dollars going into the Climate Action Tax Credit to be distributed to families that need it the most,” Premier Horgan said.

About 85 per cent of British Columbians are expected to benefit from the enhanced Climate Action Tax Credit.

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During the first three months of next year, the BC Family Benefit will rise by as much as nearly $60 per child per month for January, February, and March.

Premier Horgan said boosting the BC Family Benefit would cost the province $100 million.

Residential rent increases won’t be equivalent to inflation next year in the province, but rather capped at two per cent in 2023.

Premier Horgan said the programs will help those who need it the most.

“An average family of four will see $760 dollars more next year than they would this year — a single parent with one child will see up to $500 dollars in their pocket that wouldn’t have been otherwise,” Premier Horgan said.

The province noted applications are not necessary to claim the enhanced Climate Action Tax Credit and BC Family Benefit so long as income tax filings are up to date.

Premier Horgan noted a further benefit would be announced later this year for BC Hydro customers.

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