Ah, yes, 2021 has arrived and people are cautiously optimistic that this year will be far better than 2020.
But will it?
People are being vaccinated now for COVID-19 so that SHOULD set us on the right path to a reduction in the horrific death toll we’ve seen in Canada.
The public, however, will still need to wear masks for much of the year, according to provincial health officer Dr. Bonnie Henry. It’s a small price to pay, but for many it’s a tremendous inconvenience.
The vaccine will hopefully lead to increased public confidence and more people being able to be hired or rehired in jobs. There are a lot of people struggling financially right now, not to mention emotionally.
Unfortunately, some costs will continue to rise in the form of increased utility rates. But other areas will see a drop in fees charged and the minimum wage going up.
Here are some of the changes coming in 2021:
Minimum wage
As of June 2021, minimum-wage workers in B.C. will receive $15.20 an hour. B.C.’s minimum wage has gone up every June 1 since 2018.
Ferry, transit fares capped
B.C.’s Transportation Ministry announced in December that B.C. Ferries will receive more than $300 million in Safe Restart money, some of which will limit average annual fare increases to 2.3 per cent until March 31, 2024.
That’s in line with the rate caps set by the agency’s regulator before the COVID-19 outbreak. A similar deal was reached to cap B.C. Transit average annual fare increases at 2.3 per cent until March 31, 2024.
ICBC rates going down?
ICBC has applied for a significant reduction in basic insurance rates in conjunction with the planned rollout of its new enhanced care coverage plan in the spring. If approved, it would be the largest decrease in more than 40 years and could save drivers an average of 20 per cent or $400 on their full basic and optional vehicle insurance, the government says.
Electricity rates going up?
BC Hydro has applied to increase its rates by 1.16 per cent on April 1.
The Crown corporation cut its rates by 1.62 per cent in 2020, including a retroactive cut that will result in customers receiving one-time bill credit in the new year. Residential customers will get $4 back on average, while commercial customers’ credits will range from $10 to $600, depending on the size of the business.
FortisBC rates increasing
On Dec. 8, the British Columbia Utilities Commission approved a FortisBC rate increase of 6.59 per cent effective Jan. 1 — pending final adjustments.
Carbon tax increase imminent
In April 2020, a scheduled increase to $45 per tonne of carbon dioxide or equivalent was paused as part of the COVID-19 Action Plan. The B.C. government decided the tax rate would remain at $40 per tonne until April 2021. Come April, it will go up by $5 per tonne. A further increase — to $50 per tonne — is planned for 2022.
— With a file from Vancouver Is Awesome and files from the Victoria Times Colonist
