B.C. Budget 2023: $4.2 billion for housing but plan details still to come

The new B.C. budget commits $4.2 billion over three years toward housing, but details on the province’s full housing plan won’t be released until later this spring.

Advocates had already been supporters of a rental protection fund that was announced in January, and they were encouraged by Tuesday’s budget.

“There will be additional investment,” said Thom Armstrong, CEO of the Co-operative Housing Federation of B.C. “We are just waiting to see how much, and what will be the design of the program.”

He and other advocates that form the non-profit Housing Central group had outlined three key strategies for improving housing affordability across B.C. These included the speeding up of $4.2 billion in planned housing investments to this current budget cycle.

“In part, some funds were accelerated, but it’s not easy to figure out how much,” said Armstrong.