Victoria, B.C. — Thousands of families in British Columbia will see an increase in their provincial benefits this year, Premier David Eby announced on Monday. This move comes as part of an effort to mitigate the financial pressures of global inflation and high interest rates, which have significantly impacted daily living costs.
“With global inflation and high interest rates driving up daily costs, we know families are being hit hard right now,” said Premier Eby. “We’re increasing support to low- and middle-income British Columbians through an expanded BC Family Benefit. Getting a little extra money to families for the basics is one of the ways we’re helping people who are feeling squeezed right now.”
Under the new adjustments, families will receive an average of $445 more than they did last year, thanks to a one-year bonus added to the BC Family Benefit payments. This increase will benefit approximately 340,000 families with children—an increase of 66,000 families compared to last year.
These payments, which will start in mid-July, will be distributed through monthly deposits or mailed cheques. The 25% increase means a family of four could potentially receive up to $3,563 annually, while a single parent with one child could receive up to $2,688.
The BC Family Benefit is a payment from the Government of B.C. delivered to people by direct deposit or cheque as a payment from the Canada Revenue Agency and arrives as a combined payment with the federal Canada Child Benefit.
The expanded benefit is designed to provide crucial support for families, helping them manage essential expenses during these challenging economic times.