Money for consumers, homeowners, and students in 2019 B.C. budget
The B.C. government says it’s focused on helping people and there are some changes being made in its 2019 budget that will directly affect your wallet.
The government will pump more money into the clean energy vehicles program. Incentives up to $6,000 will continue for consumers who buy clean energy vehicles. And an additional $30 million will be spent to add more charging stations at highway rest stops, provincial buildings and in homes and offices.
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The budget is also adding another $41 million to encourage homeowners to move to clean energy in their homes. Up to $2,000 is available to replace fossil fuel heating to electric heat pumps, up to $1,000 to upgrade and better insulate doors and windows and up to $700 to install the highest efficiency natural gas furnace.
And to help offset carbon taxes, the government is enhancing tax credits. A family of four can now get up to $400 this year and $500 next.
There’s also financial help for college students. All interest charged on B.C. student loans stops, as of Feb.19. It’s estimated that will save the average student about $2,300 over a 10-year repayment plan on the average student debt of about $11,000.
The budget is also expanding Fair Pharmacare by investing $42 million to cover more drugs to treat pulmonary arterial hypertension, diabetes, asthma and eye infections.
That is in addition to money already committed to reduce or eliminate deductibles for families with a net household income under $45,000.