BC: CPA looking for opportunity in B.C. 2019 budget
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The B.C. Government has announced their 2019 Budget, and with it, the highly anticipated financial commitment to the CleanBC Plan. The budget is forecasting a surplus of $247 million in the coming year, with much of that surplus coming from increased revenues from the speculation tax.
The budget announced $20 billion over the next three years in capital infrastructure projects to support the B.C. economy and $800 million in business tax reductions to support investment in new plants, machinery and equipment. B.C. will invest $4.4 billion in hospital expansion and upgrades that could include backup generators.
The CleanBC Plan will receive $902 million over three years – $223 million is designated for an enhanced climate action tax credit for low income families, $299 million to contingency funding for projects under development (not defined), leaving $354 million remaining for operating funds and $26 million for capital expenditures.
The CleanBC Plan will receive $902 million over three years – $223 million is designated for an enhanced climate action tax credit for low income families, $299 million to contingency funding for projects under development (not defined), leaving $354 million remaining for operating funds and $26 million for capital expenditures.
Highlights from the CleanBC plan:
- $42 million for the Clean Emissions Vehicle for BC program
- $6 million to help light duty vehicle fleets adopt clean energy vehicles
- $20 million to build new fast-charging electric and hydrogen fuelling stations at rest stops
- $5 million to expand electric charging stations at highway rest stops
- $6 million to research and training programs for automotive technicians
- $3 million for the development and implementation of a zero-emissions vehicle standard
- $40 million to support energy efficiency and emission reduction projects at provincial-owned buildings
- $10 million to offer incentives to switch medium- and heavy-duty vehicles to cleaner fuels, including trucks, port and airport equipment buses and marine vessels
- $3 million in additional funds supporting a new heavy-duty efficiency program (TBD)
- $15 million to remote communities to switch to cleaner energy (diesel replacement in 22 communities)
- $6 million for projects to make communities more walkable and cycle friendly
The CPA is working to identify opportunities for the propane industry from this budget and will update members as more details on programs become available. To review the B.C. budget, click here.
