Tausi Insider

B.C. Finance Minister Selina Robinson speaks in Vancouver, on Nov. 10, 2021. DARRYL DYCK/The Canadian Press Faster-than-expected economic recovery has pushed British Columbia’s operating surplus to $5-billion more than estimated in the last quarter. Finance Minister Selina Robinson says much of the added surplus comes from higher personal and corporate income taxes, while sales taxes and natural gas royalties were also higher. The minister says the operating surplus of $5.7-billion, up from $706-million, puts the province in a “significant surplus position,” to continue using its resources to deliver results on housing, public safety, health care and climate change. “We will use these dollars we have to invest in things people need. We’re in a strong position to continue making thoughtful decisions.” Robinson says $2-billion of the added revenue has already been earmarked for cost-of-living measures announced since the summer. Those include $1-billion for the Climate Action Tax Credi...

The average monthly cost to rent a home in Canada rose to a record $2,024 in November, new data show, and experts say this trend is showing no signs of stopping. The National Rental Report published Tuesday said the average price for rent in November was up 2.5 per cent compared with the month before. On average, renters are paying $224 more per month compared with a year ago, for a gain of 12.4 per cent. Explainer: Low-income renters in Canada can apply for a one-time payment of $500. Here’s what you need to know According to the report, the average cost of rent surpassed pre-pandemic prices by 10.5 per cent. While the average price for a one-bedroom rose 8.3 per cent in November to $1,710, two-bedroom rentals had the biggest spike, up 11.7 per cent from last year to $2,090. “Rents in Canada are rising at an exceptionally high speed, which is having a profound effect on housing affordability as interest rates continue to rise,” said Shaun Hildebrand, president of Urbanation, in a ne...

B.C. Environment and Climate Change Strategy Minister George Heyman speaks during an announcement at Burns Bog, in Delta, B.C., on June 29, 2020. DARRYL DYCK/The Canadian Press A British Columbia judge has tossed out a lawsuit that accused the B.C. government of violating its own rules to account for greenhouse gas emission targets. In dismissing the lawsuit filed by the Sierra Club of British Columbia, Justice Jasvinder Basran finds the environment and climate change minister has “reasonably complied” with the Climate Change Accountability Act. It requires the government to publish annual reports outlining progress toward emissions targets for 2025, 2040 and 2050, but the Sierra Club alleged both the 2021 report and the oil and gas sector target for 2030 didn’t include that data. Basran agrees the case represents “an appropriate legal question” because wording of the act indicates the legislature “intended for these reporting obligations to be enforceable by the courts,” but he says...

The average monthly cost to rent a home in Canada rose to a record $2,024 in November, new data show, and experts say this trend is showing no signs of stopping. The National Rental Report published Tuesday said the average price for rent in November was up 2.5 per cent compared with the month before. On average, renters are paying $224 more per month compared with a year ago, for a gain of 12.4 per cent. Explainer: Low-income renters in Canada can apply for a one-time payment of $500. Here’s what you need to know According to the report, the average cost of rent surpassed pre-pandemic prices by 10.5 per cent. While the average price for a one-bedroom rose 8.3 per cent in November to $1,710, two-bedroom rentals had the biggest spike, up 11.7 per cent from last year to $2,090. “Rents in Canada are rising at an exceptionally high speed, which is having a profound effect on housing affordability as interest rates continue to rise,” said Shaun Hildebrand, president of Urbanation, in a ne...