Making a life in British Columbia is getting more challenging as the cost of living continues its meteoric rise.
Gas prices in Metro Vancouver recently broke a North American record. B.C. has the most unaffordable housing in Canada. The cost of groceries has increased exponentially, and food banks across the province are stretched thin.
It’s clear British Columbians need immediate relief from the high cost of living. We also need a vision that targets long-term financial security, service delivery and protection against corporate interests.
Last month, the provincial government announced an affordability package to alleviate the critical affordability challenges British Columbians are facing. The package includes an increase to the Climate Action Tax Credit and the BC Family Benefit and a two per cent cap to allowable rent increases in 2023. At this point, any help is welcome. But these measures will provide only short-term relief to those who qualify – few British Columbians will receive much, if any, of the touted $1,500 in savings.
This relatively small benefit package fails to address growing unaffordability challenges. We know that British Columbians will continue to struggle with inflation and that food prices will continue to climb as the climate changes. Young professionals will still be unable to afford a down payment on their first home, and students and low-income renters will still struggle to pay rent. Without affordable alternatives, people will continue to pay obscene prices for fuel. The government’s package is a short-term response to a long-term problem – and it demonstrates a lack of political courage.
Inflation has real impacts on people’s lives: 56 per cent of Canadians cannot keep up with the rising cost of living. We’re seeing this impact as business owners and managers across B.C. are struggling to hire and retain employees. From nurses and teachers to those working in the service industry, people are leaving B.C. and moving to other parts of Canada that are more affordable. If government does not step in to provide financial stability, the labour shortage will only get worse.
We’re not the only jurisdiction facing affordability problems right now, but other jurisdictions have gone a lot further to support their citizens. The U.S. has cancelled $10,000 of student debt for millions of former students. Indonesia is reallocating $1.6 billion in fuel subsidies towards welfare spending. Turkey raised its minimum wage by 30 per cent. France has frozen gas prices, and Germany doubled payments for students and welfare recipients. Brazil has raised social welfare payments. These examples make it clear we could be doing more in B.C. to help citizens cope with the unaffordability crisis.
The government’s role is to protect the public. This means ensuring we have a healthy economy, where small businesses can thrive, and people can meet their basic needs. In B.C., big corporations – from oil and gas companies to grocery chains –- are reaping historic profits while people and small businesses struggle. Despite these record-breaking profits, the BC NDP continues to subsidize oil and gas companies to the tune of $1.3 billion. It is crucial that the government respond to inflation and the rising cost of living with bold, long-term policies that address these systemic issues and provide meaningful relief to those who need it.
Investing in food security here in B.C. can help us endure fluctuating food prices and withstand climate-related disasters. Financing and building public and non-market housing and implementing vacancy control measures will help the countless British Columbians who are struggling to find housing and afford rent. By investing in robust, efficient public transportation, this government could reduce our dependence on inflated gas prices. Ensuring that post-secondary education is affordable so that we are building the knowledge economy in B.C. is a critical investment in our future.
B.C. has the economic and fiscal capacity to make major new public investments. The province could invest in addressing the crises we’re facing – in housing, health care, the climate emergency and childcare. What we lack is the political will to do so.
A government demonstrates its priorities by where it spends its money. It’s time to prioritize the people of British Columbia – not shareholders and foreign corporations – and invest in long-term solutions that will help us better weather the economic uncertainty of the future. •
Sonia Furstenau is leader of the BC Green Party.
