The Government of B.C., under the leadership of premier John Horgan, has issued its first budget update stating financial priorities for the months ahead.
The Budget Update outlined current public sector infrastructure investment commitments:
- $2.6 billion for post-secondary institutions around the province to invest in priority projects to build capacity and help meet the province’s future workforce needs in key sectors, including science, trades and technology;
- $3.1 billion to expand and upgrade health facilities. These investments support new major construction projects and upgrading of health facilities, medical and diagnostic equipment, and information management/technology systems; and
- $1.4 billion to support investments in maintaining, upgrading, or expanding ministry infrastructure, such as courthouses, correctional centres, provincial office buildings and information systems.
The update also included a list of projects within the public sector infrastructure space, valued at $50 million or more, that involve provincial funding. This includes projects in the schools, post-secondary education, health care, energy, transit, and transportation sectors. Of note is the removal of the George Massey Tunnel Replacement project, the RFP for which was recently cancelled while an independent review of the project is undertaken.
Also included an announcement that the province’s carbon tax would see an increase of $5 per tonne as of April 1, 2018.
To view a copy of the 2017 Fiscal Update, download the file here.