BC Finance Minister Katrine Conroy unveiled BC Budget 2024.
It addresses a number of ECABC priority areas.
Of greatest interest is capital spending at BC Hydro. It represents an investment of $12.4 billion for electrical generation, transmission, and distribution projects to meet customer demand and enhance reliability. Included in this total is completion of the Site C project. It also includes dollars to upgrade an existing electricity system that was largely built in the 1960s, 1970s and 1980s but must meet the demands of the modern era. This is the focus of BC Hydro’s $36-billion, 10-year capital plan.
The budget contains some relief for people and small businesses. That includes a one-time BC Electricity Affordability Credit that will go towards electricity bills for people and businesses in the coming year. It also includes a BC Family Benefit Bonus that will boost payments by 25 percent and expand eligibility to 66,000 more families. For small businesses, the Employer Health Tax exemption threshold from $500,000 to $1 million.
On the issue of training, the budget’s focus is on capital spending. That includes $178 million for construction of the Trades and Technology Complex at the Burnaby campus of the British Columbia Institute of Technology. It focuses on training skilled tradespeople in construction and is anticipated to be complete in 2027. Also receiving funding is Vancouver Community College, which will get $291 million for construction of the Centre for Clean Energy & Automotive Innovation at Vancouver Community College. This project will be an inter-disciplinary “hub” for the Broadway campus and the School of Trades, Technology and Design.
On other key ECABC issues, the provincial budget is largely silent, including prompt payment and the need for additional training and apprenticeships to train the electricity workers needed to meet BC’s future needs.
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Media inquiries:
Matt MacInnis, ECABC President