Finance Minister Carole James. (Tom Fletcher/Black Press)

B.C. to review ‘fiscal responsiblity’ at Crown corporations

On the table are BC Hydro, ICBC, the BC Lottery Corporation and more

The B.C. government has announced plans to review the fiscal sustainability of its Crown corporations.

On the list released Tuesday are the BC Lottery Corporation, BC Hydro, the ICBC, the Liquor Distribution Branch, and the BC Housing Management Commission, including the Provincial Rental Housing Corporation.

The province said it will “evaluate risks and identify options” to develop, monitor and manage to its overall fiscal plan targets.

Budget documents released earlier this month showed ICBC did financially worse than forecast, while the BC Lottery Corporation and the Liquor Distribution Branch did better, and BC Hydro performed pretty much on par.

ICBC has been much criticized for an $833-million deficit revealed this past winter. A report released in July said rates could go up by as much as 30 per cent by 2019 if current trends persist, the corporation still has to cover its costs through rates, and nothing is done to improve things.

READ: ICBC rates could go up 30 per cent by 2019: report

The NDP had taken shots at the previous Liberal government for what the New Democrats called their “irresponsible” handling of the auto insurer.

In July, Attorney General and minister responsible for ICBC David Eby told reporters that a 30-per-cent rate hike “will not be happening on our watch.”

READ: ICBC claims up 14 per cent this winter

Premier John Horgan appointed new ICBC and BC Hydro chairs in late July as part of the government’s strategy of overhauling the two corporations.

The NDP has promised to freeze hydro rates, overturning a Liberal plan that would have increased rates by 28 per cent over five years.

The review is scheduled to be complete before the government starts putting together its next budget.


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Castlegar walk raises thousands for local Alzheimer’s support

Castle Wood Village fundraiser shows astounding support in community, organizers say

IRM reports small sulphuric acid leak at Waneta reload

IRM states a small volume of less than one cup and three dime-sized drips were leaked from carrier

Columbia Basin RDI: Exercise Your Right to Vote

Voter turnout statistics from the Columbia Basin Rural Development Institute

New farmers in Columbia Basin supported by land matching program

New and young farmers in the Basin are receiving support and services from a dedicated land matcher

Columbia Basin Trust offering business accelerator program

Trust seeking motivated companies for customized support and mentorship program

Video: Flyers new mascot ‘Gritty’ a bearded, googly-eyed terror

The Philadelphia Flyers unveiled their new mascot Monday, and as one would expect of the team that gave us the “Broad Street Bullies,” he’s far from cuddly.

Harvest Moon to light up B.C. skies with an ‘autumn hue’

It’s the first moon after the autumn equinox

Hockey league gets $1.4M for assistance program after Humboldt Broncos crash

Program will help players, families, coaches and volunteers after the shock of the deadly crash

Canada has removed six out of 900 asylum seekers already facing U.S. deportation

Ottawa had said the ‘overwhelming majority’ had been removed

Appeal pipeline decision but consult Indigenous communities, Scheer says

The federal appeals court halted the Trans Mountain expansion last month

B.C. electric vehicle subsidy fund drains faster than expected

Province adds another $10 million to incentive fund

‘I’ll never forgive you:’ Victim impact statements at hearing for Calgary killer

Curtis Healy was found guilty of first-degree murder Friday in the death of Dawns Baptiste.

Man accused of mailing bomb to his brother in B.C. has died

Leon Nepper was found in ‘medical distress’ at the Whitehorse Correctional Centre on Sunday

Most Read