B.C. Finance Minister Carole James expects to lay out the extent of the COVID-19 impact on the provinceB次元官网网址檚 economy this week, but how she will deploy a $1.5 billion relief fund will likely have to wait until August.

James is preparing to provide an update on the coronavirus pandemicB次元官网网址檚 effects on B.C. July 14. It will set out the progress of the provinceB次元官网网址檚 relief efforts for individuals and businesses, and include a range of financial forecasts about what the future holds for the B.C. economy.

But the $1.5 billion in borrowed money held in reserve for a recovery plan will not be finalized until after a six-week public consultation that runs until July 21, with analysis after that.

B次元官网网址淵es, we will have additional measures that will come later, after our consultation occurs,B次元官网网址� James told reporters at the B.C. legislature July 13.

Many of the governmentB次元官网网址檚 measures are already in place, such as tax payment deferrals and reduced business school tax, plus the gradual lifting of pandemic restrictions on business and public activities. With the $1.5 billion recovery fund left from the $5 billion emergency appropriation voted by MLAs, the cost will be enormous.

B次元官网网址淚B次元官网网址檝e tabled legislation that says for the next three years we will not balance the budget. We will in fact have deficits,B次元官网网址� James said. B次元官网网址淏ut each and every year thatB次元官网网址檚 going to have to be looked at. WeB次元官网网址檙e going to have to see where the economic recovery is occurring. IB次元官网网址檓 afraid itB次元官网网址檚 a challenging time, and youB次元官网网址檒l see that in some of the statistics tomorrow, when it comes to economic forecasters who have a wide range of what they anticipate could be coming, because of the uncertainty thatB次元官网网址檚 there for, not British Columbia but in fact for Canada and the world.B次元官网网址�

B.C. Liberal MLAs have called for faster action, and leader Andrew Wilkinson has sent a series of letters to Premier John Horgan with possible ways to use the relief money. Among those was declaring a sales tax holiday for struggling businesses, rather than just allowing them to defer sending in the sales tax they collect on transactions.

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