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Housing expected to headline BC budget tomorrow

(Lasia Kretzel, NEWS 1130 Photo)

BC's finance minister says budget includes measures to dampen speculation in BC's real estate market

VICTORIA – BC’s New Democrats will deliver a budget tomorrow that’s expected to outline plans for creating more affordable housing for families, students, and seniors.

Finance Minister Carole James says the financial blueprint also includes measures to dampen speculation in the province’s red-hot real estate market.

She says her government is taking a multi-pronged approach to creating more housing options in a province where some seniors are forced to couch surf and working couples are living in basement rentals because they can’t afford a down payment on a home.

Last week, the government’s throne speech promised the largest investment in affordable housing in the BC’s history, targeting social housing, rentals and accommodations for students, seniors and Indigenous Peoples.

Housing Minister Selina Robinson says the budget will outline a plan to involve all levels of government and community groups in increasing housing supply, but the crisis will not be solved overnight.

The NDP promised during last spring’s election campaign to build 114,000 units of affordable housing over the next decade.