18 BC communities are among 30 across Canada to reach agreements with the federal government to fast-track the construction of new housing.
Ottawa is providing 68 million dollars to support the plans.
The government says the agreements will result in a total of 17-hundred housing units over the next three years and more than 14-thousand over the next decade.
The B-C communities receiving funding include nine First Nations as well as the District of Tofino, Ucluelet, Saanich, and others.
Governor Tiff Macklem says economic data since January has improved the central bank’s confidence that inflation will continue to slow, even as economic growth picks up. The governor says while the Bank of Canada is seeing the evidence it needs to begin lowering interest rates, it needs to see price pressures ease for longer to make sure the decline in inflation is sustained.
The British Columbia government is granting a one-time $430 benefit to the roughly 20,000 seniors in its support program for elderly low-income renters. B.C. Housing Minister Ravi Kahlon says eligible seniors don't need to apply for the payment, which will be sent out this month.
British Columbia's credit status took a double blow on Tuesday, with S&P downgrading the province due to the risk of "outsize" deficits, and Moody's turning its outlook negative. S&P Global Ratings blamed big government spending as it dropped its credit rating for the province and BC Hydro's provincially guaranteed unsecured debt from AA status to AA-minus.
The B.C. government says it's making it easier for forestry companies to salvage timber damaged by wildfires. Sustainable Forestry Innovation Minister Andrew Mercier says in a statement that changes to the price of fees for harvesting timber on Crown land make salvage "more economic," and will speed up forest regeneration.
British Columbia is moving ahead with the transition to an independent police service in Surrey after the mayor and council refused to part ways with the RCMP. Solicitor General Mike Farnworth says a plan is in place for the continued transition to the independent Surrey Police Service, and he'll release more details next week on how that will work.
British Columbia's government is spearheading a new public development project on Vancouver Island aimed at bringing more affordable homes closer to transit access Premier David Eby says the province has purchased two parcels of land for the Uptown development in Saanich, B.C., through the $394-million property acquisition fund operated by the Transportation Ministry.