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MSP Premiums cut in half in 2017 BC Budget

BC’s Finance Minister has tabled a balanced budget.

The financial plan was presented in the legislature Tuesday afternoon and contained a number of new spending initiatives focusing on infrastructure, education, and health care spending.

It also included some relief on MSP premiums, with the government pledging to cut the premiums by 50% for households that make less than $120,000 a year.

That cut comes into effect next January.

Finance Minister Mike de Jong says Budget 2017 is a balance between spending and managing the risk from changes in world markets and low resource prices.

The budget also included targeted funding for education, including $9-million to the Rural Education Enhancement Fund. The government also announced that it is reducing the interest on student loans, effective August 1st.

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