ICBC, BC Hydro and Translink are all bumping their rates in 2017, and Medical Services Plan (MSP) premiums will rise for more than half a million West Coasters as well.
VANCOUVER – Everything is going up under the BC Liberals in 2017 as British Columbians can expect to shell out more money for car insurance, electricity and other taxes and user fee hikes in 2017.
Will that mean the Premier Christy Clark and her party is looking at a potential loss at the polls given the elections are set for May
British Columbians can expect to pay more for electricity, public transit and car insurance in the new year.
ICBC, BC Hydro and Translink are all bumping their rates in 2017, and Medical Services Plan (MSP) premiums will rise for more than half a million West Coasters as well.
Premier Christy Clark says she’s considering rejigging the way B.C.ers are taxed, including changing MSP and property taxes, but nothing concrete is in the works yet, reported CBC News.
Here are some of the services British Columbians will, or could, be shelling out more for in 2017.
Approximately 530,000 families in B.C. will see an MSP increase next year, according to NDP leader John Horgan.
For example, the new rates will see couples with an annual household income of more than $45,000 paying an extra $14 a month, or $168 a year.
The median total income for a family in B.C. is $76,770, according to Statistics Canada.
Senior couples who make over $51,000 will also see a bigger bill, landing in the highest price bracket without a chance at a discount.
There are some breaks for single parents who make less than $40,000 a year — they could save up to $1,248 annually, or $104 every month. Single parents with two kids could keep at least $900 in their pockets each year.
The provincial government said the new MSP rates are meant to give low-income families a break.
BC Hydro’s rates are slated to rise by 3.5 per cent on Apr. 1, 2017, keeping in line with the corporation’s 10-year pricing plan.