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The impact of the B.C. budget on you

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(Courtesy CBC)
Most of us have heard some of the details of the BC Liberal government's budget that pegs the provincial deficit at $1.5 billion.

To balance the books, the province is controlling spending, selling assets and increasing taxes.

More specifically,  income tax rates are going up for high earners and corporations

Our health care premiums, also known as Medical Services Plan or MSP premiums will go up by four per cent.

On the other side, children will benefit with every child getting a one time $1,200 grant toward their RESP when they turn six years of age.

To get a better understanding of all the numbers, the ups and downs, we spoke to Ross Hickey, an economics instructor at UBC-Okanagan in Kelowna.

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