VICTORIA – Coastal travellers will see stable but rising fares when sailing with B.C. Ferries over the next four years.
Ferries Commissioner Gord Macatee has confirmed that fare price increases will be capped at 1.9 per cent per year from 2016 to 2020, as proposed earlier this year.
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Macatee outlined his decision for the increase in a report after conducting an independent review of the newest Coastal Ferry Services Contract.
The commissioner determined that answering public demands for a general rollback in fares was outside of his authority, although he acknowledged the many concerns he has received from the public about affordability.
Macatee notes much work has gone into addressing fare affordability and that has resulted in caps below the Bank of Canada’s target inflation rate of two per cent.
In June, B.C. Ferries announced a $30-million jump in net earnings and its president said that would allow fares to stay at or below projected inflation rates.
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