B.C. will match $1 billion from Ottawa to help jump start the pandemic economy
Posted July 22, 2020 2:58 pm.
Last Updated July 22, 2020 3:29 pm.
VICTORIA — The provincial government says it is matching $1 billion in federal government money to address the impacts of COVID-19 and help restart the economy.
Premier John Horgan says in a news release the funding will secure some of B.C.’s share of the federal government’s $19-billion “Safe Restart” plan for the country.
New from BC Gov: $1 billion additional spending for #covid19 recovery for transit. This follows the feds announcement last week of matching funding for provinces.#bcpoli @NEWS1130 pic.twitter.com/sVAUpqD77v
— LizaYuzda (@LizaYuzda) July 22, 2020
It says the money will support local governments and transit operators that have revenue shortfalls created by the pandemic.
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Finance Minister Carole James says the federal government’s restart program also includes funds to support health care, child care, vulnerable populations and a sick leave program.
James introduced the supplementary estimates in the legislature Wednesday for up to $1 billion to fund the province’s portion of municipal and transit services help, depending on the outcome of further federal cost-share discussions.
James announced last week that B.C. forecasted budget had gone from a surplus to an expected deficit of $12.5 billion because of the pandemic.
Horgan has said the province expects at total $2.2 billion in federal transfers to B.C. under the federal agreement.
