February 20th, 2023 Monday
More help for B.C. families on the way
VICTORIA – More than 350,000 families in B.C. will get their second BC Family Benefit boost to
help with the cost of living, starting immediately.
“Global inflation continues to squeeze household budgets, and paying for essentials like
groceries and gas is hard on many families right now,” said Katrine Conroy, Minister of Finance.
“Through the second enhanced BC Family Benefit payment, parents will have a little extra
money this month to stretch their budgets and provide their family with life’s essentials.”
Recognizing people are being pinched by price surges, the B.C. government has boosted the
monthly BC Family Benefit payments for low- and moderate-income families for three months,
January through March. A family with two children can receive up to $350 more than usual over
the three months. Added to the regular monthly payments, the three-month enhancement
means a family with two children will get as much as $330 each month.
Eligibility is based on income and number of children. People can expect to see their family
benefit and the bonus cost of living payment as a deposit or cheque through the Canada
Revenue Agency alongside the federal Canada Child Benefit program. Eligible families are
automatically determined when someone registers for the Canada Child Benefit.
“We’re helping people with the additional challenges they’re facing right now, while making
investments in a future B.C. that works for everyone,” said Conroy. “No matter what is on the
horizon, we’re here for people and families in British Columbia.”
Since fall 2022, the Province has provided approximately $2 billion in supports to help people
with increased costs through the BC Family Benefit, the BC Affordability Credit, support for
back-to-school expenses, a one-time energy rebate and a cap on rent increases below the rate
of inflation.
Budget 2023 will continue to make smart investments in the things that matter most to help
build a stronger, more secure B.C. for everyone.
Quick Facts:
Inflation in B.C. peaked at 8% in May 2022 and has since dropped to 6% as of December
2022, but inflation and prices still remain high, particularly for shelter, food and
transportation.
According to the Bank of Canada, inflation is expected to fall an additional 3% mid-2023
and return to the 2% target in 2024.
BC Family Benefit payments for February start Feb. 20, and can take as long as 10 days
to arrive for all eligible families.
Approximately 75% of B.C. families are receiving the enhanced BC Family Benefit credit
and approximately 85% of those families will receive at least an additional $50 per
month, per child.
The BC Family Benefit was formerly known as the Child Opportunity Benefit.