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

Trail police seek to ID more loot recovered during weapons search

Trail RCMP recovered numerous weapons and stolen items after search at Fifth Avenue residence

Trail officially launches Community Safety Task Force

Terms of Reference (mandates) for both the new groups are available on the city’s website

Last of southern Selkirk caribou relocated to Revelstoke area

One cow from the South Selkirk herd and two from the Purcells were moved this week

Nelson police warn of counterfeit money in city

The department says it has received multiple reports of fake Canadian and U.S. cash

Support for Blanket Warming Station at KBRH

Kootenay Boundary Regional Hospital is currently undergoing a $19+ million Emergency Department reno

B.C. opioid crisis to get same world-renowned treatment approach as HIV/AIDS

A program that focuses on treatment as prevention will roll out Jan. 17

Former welfare clients still owed money, B.C. Ombudsperson says

Investigation found 2,600 people docked illegally for earning income

Prince George could get province’s second BC Cannabis Store

The first brick-and-mortar government retail location opened in Kamloops on Oct. 17

B.C. chowdery caught up in ‘rat-in-soup’ scandal to close

Crab Park Chowdery will be shutting down Jan. 20

Teen vaping is an epidemic: US government

E-cigarettes are now the top high-risk substance used by teenagers, outpacing cigarettes, alcohol, marijuana

Vancouver councillors unanimously approve motion declaring climate emergency

Vancouver joins cities like Los Angeles and London

‘I never said there was no collusion,’ Trump lawyer says

President Donald Trump’s lawyer Rudy Giuliani says he has ‘never said there was no collusion’

Winter weather advisory issued for East Kootenay

Up to 5cm of snow expected by the end of the weekend and up to 15cm over the next week

Body of Canadian miner found after African kidnapping

Kirk Woodman’s body was discovered 100 kilometres from the site where he worked for Progress Mineral Mining Company in Burkina Faso

Most Read