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>> Good morning, everyone.
I am Selina Robinson,
Minister of Finance.
I would like to recognize that I am on
the tradition or territory of the
Lkwungen speaking people, the Songhees and
Esquimalt Nations.
We are going to talk about important actions
were taking today to provide significant
new support for British Columbians were also
managing our provinces finances.
We have been through a lot together.
2020 has brought
each of us many challenges.
I am proud of the way
we have all come together
to keep each other
safe and healthy
while we await a vaccine.
With the weather growing colder
and holidays approaching,
we know this can be
an especially hard time
for people.
Colder weather
can mean they need to spend more on
clothing, home heating,
or finding extra gift money
for the people that we love.
We understand that and want to ensure people
can afford necessities,
can pay their bills, and be able to enjoy
the holiday season this year despite the
pandemic.
We made a commitment to provide
a recovery benefit to British Columbians this
year,
and I am so pleased to announce we have tabled
legislation today to introduce the tax-free
BC Recovery Benefit.
Starting December 18, people will be able
to apply online for the benefit.
Up to 3.7 million British Columbians
will be eligible for this benefit.
Individuals will receive
a one-time payment
of up to $500
for single people earning less than
$62,500.
Single people earning up to $87,000
will qualify for a reduced benefit amount.
Families making less than $125,000
will receive up to $1000.
Families, including single-parent families,
earning up to $175,000 will qualify
for a reduced benefit.
We expect hundreds of thousands
of British Columbians to have their benefit
directly deposited into their bank accounts
before the end of this year.
This will give people
some breathing room and peace of mind
and a bit more to spend on groceries, on coats,
on boots for their growing kids,
and special gifts to lift
our spirits.
We know that the pandemic has
disproportionately affected people with
lower incomes in our province.
That is why at the start of the pandemic
we temporarily enhanced
income and disability assistance.
People who need the support of income and
disability assistance in our province can apply
for the new recovery benefit as well.
They will also automatically receive
a recovery supplement
and additional $150 a month starting in January
through March.
Add that to the BC Recovery Benefit that
they can apply for, that means individuals on
income and disability assistance could receive
up to an additional $950 over those months.
In families with both parents receiving income
and disability assistance could receive
up to an additional $1900 through these
programs.
Now, these benefits will also help stimulate
our local economy
and support small businesses that are
working hard and providing good jobs for
people.
This is an important part of how
we recover.
I am looking forward to the swift passage of the
bill that will provide an additional $2 billion
in support for British Columbians.
Next week I will also be providing an update on
the provinces finances.
Before the session closes, I will release a
full economic and fiscal
update to show our spending today in
support of British Columbians, the state of
revenues coming in,
and the resulted projected deficit.
Meanwhile,
work is underway for our next budget.
We are doing the important work to build
a robust and meaningful
fiscal plan, a plan centred on looking out
for people and families,
investing in healthcare and seniors care
to protect people
and fight COVID-19.
And building a recovery that includes everyone,
not just those at the top.
And while we do that work,
we will continue to roll out support
and new programs to help people
and businesses recover.
Thank you.
I can now take some questions.
>> Thank you, minister.
As a reminder to everyone on the phone,
please press star nine to enter the queue.
You are limited to one question and follow-up.
The first question is from Marcello Bernardo.
Go ahead.
>> Thanks for taking my question.
How soon will this money be delivered to
people if they are applying on December 18?
>> Think you for the question.
It is good to hear your voice.
December 18
is when you can apply online.
We expect people
will receive direct deposit with a number of
days of their application.
>> You have a follow-up?
>> I know this is a technical thing,
but for people who don't want to apply
online, how can access this money?
>> We are encouraging people
to go online.
A few days afterwards, I think it is December 21,
we will have a call centre.
People will be able to call that number.
It should be up and running
summer 20 first.
>> Next question is from Rob Shaw, Vancouver Sun.
>> Hi.
I am just looking at that timeline.
I am hearing you say that the money
will go by the end of the year or within a
number of days, but if someone applies at the
beginning online, do they get the benefit by
Christmas?
To buy the special gifts and other things
you're mentioning it could be used for?
>> We are expecting that will be able to happen.
That online when you apply and have
all of your information
put in correctly it moves very quickly
through the technological
beams that we have, the machinery that we have,
and we are expecting that people
will be able to get in their bank account
before Christmas.
>> To have a follow-up?
>> Yes, please.
Thanks.
What is the cost of administering this
program?
In the election, I think it was estimated
at 1.4 billion.
What is the current estimate of how much
this will cost?
>> One point 6 to 1.7 billion.
He rolled in those on disability and social
assistance as well.
>> Next question is from
Rob from
CTV I.
>> Thanks for taking
my question.
One thing I was wondering about
as I thought I heard you say the range for
families goes up to
175,000.
I wanted to clarify because I saw elsewhere
in a release yesterday
that it capped out at 170,000,
>> It is 175.
>> You have a follow-up?
>> I do.
I am just wondering about support and relief
for businesses.
Do the things The things you related today
are about individuals and families, obviously,
but is there anything you can tell us about
grants, relief, or support for businesses?
I know of a restaurant that has done extremely
well ends
in December, and it's going to be a bleak year
for them.
>> We rolled out a number of programs.
There is certainly a new program
that the Minister for Jobs Economic Recovery
and Renovation has been looking at
and trying to address a program that has been
adapted to be
more easily applied for.
the process to get money into the hands
of businesses to help them
through this rough spot.
We are in this really interesting time
as we see the vaccine is right
on the horizon, and we are anticipating
that that will help us
move forward into a stronger
recovery position.
So we know these programs are absolutely
critical
to businesses and individuals and
communities
until we can get back to
a more normal life
that we are all craving right now.
>> Andrew MacLeod.
>> Hi, Minister Robinson.
I am trying to figure out how this will affect
people on
income assistance and disability assistance.
As you know,
some forms of income tend to get caught back
from assistance checks.
>> There will be no clawback on this
benefit.
>> You have a follow-up?
>> So the supplement
was 301.
What was the rationale for dropping to 150?
>> So the worker benefit
did not include people on resistance.
So as a result
we develop additional supports for those on
assistance.
This recovery benefit we are rolling out now
includes those who are on assistance.
So they have access to that benefit, we also
recognize that it has been a particular
challenge for this particular group
of British Columbians.
So for that reason we have a supplement
to the recovery benefit.
It is $150 a month.
>> Andrew, do you have a follow-up?
>> Am I allowed another follow-up there?
Just to be clear,
that is a supplement on top of the recovery
benefit?
So they will get the recovery benefit and the
supplement?
I am not sure I am following.
Sorry.
>> They get the benefit.
They can apply for the benefit.
And in addition to that they will get
the supplement to the benefit of $150 a month
from January to March.
>> Next question is from Lisa Cortes go.
>> Worry
Will you extend the $150 a month benefit
to those on federal disability?
>> I didn't catch
the last two words, I think.
>> Will you extended
to those who are on federal disability?
>> This program is for those
that are on our programs, the social
assistance and disability assistance
programs that we have here in British Columbia.
>> Lisa, do you have a
follow-up?
>> Yes.
Why are people on federal disability
who are British Columbians
less deserving of $150 a month
than those that are on provincial disability?
>> My assumption is that they are on provincial
disability.
I can get more technical information
for you on that if you'd like.
>> Richard, global news.
>> Minister, I am just wondering
about the sliding scale.
Legislation doesn't seem to be online yet.
There aren't many details.
I know it is a bit of a technical question, but
I'm hoping you can walk through for me some of
the points in terms of how quickly it goes down
in terms of how much you make and how much
benefit you are eligible for.
>> OK.
Water I just provide you with a couple examples.
That might help.
If you want more detail
we can certainly get that to you.
So a single parent with an annual income under
or equal to $125,000
will get a one-time payment of $1000.
A two adult family, these are just examples,
with an annual income of 150,000
will get a one-time payment of
$500.
A two adult family
with an annual income of 170
-- 174,500
will get a
one-time payment of
$10.
It slides down
considerably.
This is about
recognizing that you could
have been in 2019, the tax returns were going
to be using,
an electrician married to a hairstylist
and the impacts of COVID
have been significant in terms
of your ability to
do Christmas the way you traditionally do
or being challenged to get the kids new boots
because
they have outgrown them.
So this is an opportunity to support
even middle income British Columbians
a little bit of extra
so they can take care of their families the
way they traditionally have.
>> Richard, do you have a follow-up?
>> I think
you just mentioned it is based on the 2019
incomes.
As you know, a lot of British Columbians have
seen a massive decrease
in their incomes and 2020.
This is sort of the people you are trying to
help the most.
So why go with 2019?
Do you believe there will be people, as you
mentioned, you know, an electrician, people who
have lost work
and maybe made quite a bit in 2019 and this
year made not so much.
Will there be people last year?
Why go as 2018?
>> This is why we have such a large scope and
terms of
people, and we recognize that.
If we were to wait until the 2020 tax returns
than people
wouldn't get a benefit until much later.
People need help now.
This is the best tool that we have to help us
deliver a benefit to people who need it.
We have a significant threshold that allows us
to get at those people
who need it most.
>> One course from Business in Vancouver.
>> Just wondering about
the verifications.
In the online registering or
processing system,
people just put in information.
You have the authority to share information
with Revenue Canada?
Or are you taking whatever people put in?
>> Thank you for the question.
Yes, there is a significantly stringent
verification projects -- process that staff have
built into the system, making sure that we
reduce any potential fraud because it is
really important that we get it into the hands of
British Columbians.
>> You have a follow-up?
>> I was going to ask
about the 2019 year, but following up
on your comment about 2020,
is it possible that we could see
a second version
of this in
May or sometime into 2021?
>> What we have said as a government is we are
here
to help British Columbians to the
pandemic.
We are committed to that.
We have been committed to that since March.
Not knowing how long this pandemic was going
to last.
I am sure like everyone around the world has
been watching very closely as this vaccine
was out, and I believe in England we saw the
first few folks get their shots.
It provided for me just as a human being
tremendous relief to see
the vaccine.
I'm hopeful that we are seeing ourselves
right at the cusp of this next phase and
hopefully we will have the vaccine and herd
immunity built up in short order
so we can get back to our lives.
>> We have one more question today from
Leslie.
>> Thank you.
Minister, I was wondering
how you arrived
at the eligibility
and thresholds, the 52,500
and thresholds, the 52,000 $587,000 for
individuals,
and up to 175,000 for families.
Where did those numbers come from?
>> Like I said earlier, we recognized
that
if we are using the 2019 returns that we also
want to make sure we captured those people
who in 2020 may have been
significantly impacted by the pandemic.
So we made sure that we included
metal income British Columbians
in that, recognizing
that middle income British Colombians have
been impacted by the pandemic.
And also recognizing
that by putting this money in peoples
pockets, they are going to spend it in their
communities.
Whether it is taking the family out for dinner
because they haven't had a chance to do that,
and that is going to help the local
restaurants.
Forgetting their five dollar latte because
they haven't been able to.
It is going to help the local coffee shop.
Going to their favourite bookstore and getting
books for their kids for Christmas
because that is going to help the local
economy as well as allow them to
ring Christmas to their children.
So all of these things
put together a good four British Colombians
and good for our economy.
>> I'm just wondering
from the philosophy, it sounds like it is going
to be a short-term
jewelled, basically a Christmas giveaway.
Was there any consideration
of other options?
The liberals were talking about a sales
tax cut.
Would that mean more long-lasting benefits
given recovery is going to take a period of
years?
>> Absolutely not.
I think the liberals proposal was a terrible
proposal, and I'm not the only one to say
that.
Business leaders have also just suggested it
is a terrible proposal.
This is a proposal to get money into peoples
pockets right now.
This is about people needing supports.
That is what we are doing here.
We also recognize we are supporting local
businesses.
And we are building a recovery together.
We started that with our recovery plan back
in the fall.
We are continuing to build that out.
And we have more work to do.
We are not stopping.
We know we have work to do as British Colombians
to build back our economy better.
We are starting to see really good signals.
They will be more to tell on the economic
update shortly.
But we have lots of work to do going forward.
>> That is all we have for today.
Thank you, everyone, for joining us.