Cost of living

Access free or low-cost services, income support, direct funding and tax relief to help you offset the cost of global inflation.

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BC Family Benefit Bonus

To ease the strain of high prices from global inflation, Budget 2024 includes a one-year BC Family Benefit Bonus. Eligible families with children will see a 25% increase to their monthly BC Family Benefit payments and 25% more families will benefit this year, giving families and single-parents hundreds of more dollars to help pay for bills.

Reducing your child care costs

Investments are being made to reduce child care costs for young and school-aged children – saving families up to $900 per child per month attending licensed centres.

There are also more than 13,000 $10 dollar a day child care spaces throughout the province, with more spaces being added this year.  

Credit on your electricity bill

To help with rising costs from global inflation, people will receive an electricity affordability credit to help reduce their electricity costs over the next year.  

For the average residential customer, this will be around $100 in savings showing up on electricity bills over the course of the year.

Budget 2024 – Taking action for you

BC Family Benefit Bonus

New B.C. Electricity Affordability Credit

Increasing Climate Action Tax Credit payments

A same-sex couple sit in their kitchen together. One man holds their baby while his partner is making the baby laugh.

Increasing Climate Action Tax Credit payments

People in B.C. will get more money through the Climate Action Tax Credit this year. If a family of four received $890 last year, they will get $1,005, starting in July. The income ceiling for the credit goes up each year, with a goal to reach 80% of households in B.C. by 2030. 

Child care savings expanded

On September 1 2023, families with children in eligible preschool and before- and after-school child care programs will be saving up to $145 per child per month.

This new fee reduction is in addition to the fee cut of as much as $900 per month per child that families with children kindergarten-aged and younger have been benefiting from since December 2022.

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Improving access to fresh, local food 

All people in B.C. deserve nutritious, affordable, local food. New funding will help increase how much food is produced and available in B.C., particularly in remote, northern and Indigenous communities. We’re also giving extra support to local food banks to help everyone put good food on the table. 

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Raising the BC Family Benefit

To help people with the rising cost of living due to global inflation, the BC Family Benefit increased by 10% as of July 2023. A two-parent family with two children can get up to $250 more per year. A single parent, one-child family can get up to $650 more per year.

A young girl smiles at the camera while she eats a carrot during lunchtime at school.

Expanding school food programs

When children get the healthy food they need, they can focus on learning. An investment of $214 million over three years will help to expand school food programs and will address student hunger throughout B.C.

Smiling staff wearing aprons hand out food to a group of people.

More help for people facing housing challenges

Around 160,000 people, including 33,000 children, need more support through income and disability assistance. For the first time since 2007, the shelter rate, a part of assistance programs, will be increasing by $125 per month. Enhanced payments begin July 1, 2023.

The BC Ferries vessel "Spirit of Vancouver Island" seen with trees in the immediate background.

Keeping ferry fares affordable

People rely on BC Ferries to get to work, do errands and visit loved ones. We’re making sure ferry fares stay affordable by investing $500 million to keep fare increases low.

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No ICBC rate increase

There will be a 0% increase to ICBC rates until 2025. This will mean a total of five years of no increases to basic rates for British Columbians. Drivers will have the security of knowing that their basic auto insurance rates will remain stable, with no unexpected hikes.

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No interest on student loans

There is no longer interest on B.C. student loans.

A young Asian woman and her grandmother both wear lavender shirts outside as they smile and look out into the distance together.

Disability and income assistance

A grandmother talks to her young grandson in a grocery store, pointing to items on the shelf. The young grandson looks at his grandmother from the grocery cart child seat.

MSP premiums eliminated

People in B.C. are no longer charged MSP premiums, saving a person up to $900 per year.

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Low and no-cost community counseling

You can access free and affordable counseling through 49 community organizations across B.C.

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Shelter aid for elderly renters

If you are a lower income senior renting in the private market, you may be eligible for a rent supplement.

An Indigenous family of five sits together. The woman on the left smiles at her partner while holding a new baby.

We Are Indigenous support program

Indigenous-centered practices and strategies that help children increase their Strong-Spiritedness.

A teenaged Indigenous boy smiles at the camera holding a baseball bat over his shoulders. He wears a baseball glove on his left hand.

Healthy Kids Program

Children of low-income families can get help with the costs of basic dental care, prescription eyewear and hearing care.

Two people of colour wear masks and aprons while the person on the right carries a crate of tomatoes.

Farmers’ Market Coupon Program

If you are eligible, you can receive $27 of coupons per week for 16 weeks to help purchase local food.

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Adult Basic Education and English Language Learning

Domestic students can access tuition-free programs at 18 public post-secondary schools in B.C.