What to Expect
MLAs will return to the legislature on February 6. That day will see a Speech from the Throne, which will be the first focused and holistic outline of Premier Eby’s governing priorities and agenda. However, many can already be assumed. Healthcare is the top priority of all British Columbians, and so too is affordability, especially considering a recent call to Ottawa by B.C.’s new Housing Minister, Ravi Kahlon, to tie housing funding directly to the number of immigrants moving to each province. Premier Eby has also indicated a desire to be more aggressive in addressing climate change.
The Week That Was
The province is increasing protections for homebuyers through changes that came into effect last week via implementing a three-day protection period, affording prospective homebuyers with greater ability to secure financing and inspections. In addition, the protection period includes a 0.25 per cent rescission fee should the purchasing party choose to forgo the purchase.
Eligible British Columbians will have access to grant funding to help homeowners with their property taxes, which includes 92 per cent of residential properties within the province and has a set threshold of $2.125 million in 2023.
According to Statistics Canada Labour Force Survey results, B.C. stood out with the addition of 62,900 jobs in 2022, with one of the lowest unemployment rates across Canada at 4.2 per cent.
Orders in Council
OIC 1/2023 – Appoints Michelle Anne Koski as an Assistant Deputy Minister within the Ministry of Agriculture and Food, effective January 30, 2023.