5 wins for B.C. in the federal budget

Original Author: Felicity Stone, BCBusiness

Source: http://www.bcbusiness.ca/finance/5-wins-for-bc-in-the-federal-budget

The federal budget was announced this week and it brings significant spending across Canada. Being a BC firm above all else, we, like most British Columbians were very interested to see what the budget had in store for BC. This weeks article comes from BC Business and it summarizes some of the bright points of the Budget for BC. Naturally, there was a lot more to the budget than the money we can now expect to be spent in BC (ex. tax impacts of the budget). Contact us today and we will be more than happy to discuss the possible impact of the budget on your financial position.

Thursday, March 31st, 2016 | ECONOMY

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Federal Finance Minister Bill Morneau released the Trudeau Liberal government’s first budget on Wednesday. Here’s some of what’s in it for B.C.

1. $460 million for transit
$3.4 billion over three years to upgrade and improve public transit systems across Canada; B.C will receive $460 million. The budget specifies light rail in Greater Vancouver, but no mention of the proposed Broadway subway line

2. Research into foreign buyers
$500,000 for Statistics Canada to study foreign homebuyer activity, first promised by Stephen Harper in the 2015 election campaign, and $2.3 billion over two years for affordable housing, starting in 2016–17. A significant portion will go to provinces and territories, which can identify communities where the need for affordable housing is greatest, including $739 million for First Nations, Inuit and northern housing.

3. Funds to help cities deal with climate change
$75 million  nationwide in new funding for local governments to address climate change, to be delivered by the Federation of Canadian Municipalities. The funds will support municipality-led projects to identify and implement greenhouse gas reduction opportunities and support the assessment of local climate risks, and the integration of…





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