The B.C. government has taken steps to lower fare increases for people who rely on the coastal BC Ferries services through a $500 million investment.
The announcement was made at a press conference in Vancouver on Sunday.
“Every day, people use BC Ferries to get to work, visit family and friends, as well as (go on) vacations,” B.C. Premier David Eby said.
“We know the cost of everything continues to go up due to global inflation, but by acting now, we can prevent double-digit fare increases from hitting people who depend on our ferries.”
According to the government, a recent submission to the BC Ferries commissioner and the impacts of global inflation over the past year and a half, it was clear ferry passengers were facing increases of around 10 per cent per year over the next four years.
With the $500 million investment, the B.C. government said it will keep fare increase to below 3 per cent a year.
“Our government recognizes the importance of reliable and affordable ferry service for travel and goods movement,” Rob Fleming said, B.C.’s minister of transportation.
“It is vital that ferries are well served and supported.”
The increase in fare costs is tied to increases in things like fuel and inflation, officials said.
“This significant funding from the Province supports necessary service enhancements and infrastructure investments while keeping fares affordable for the travelling public and our commercial customers,” said Jill Sharland, BC Ferries’ interim president.
“We are thankful we have a government partner who understands the complexity of running one of the largest ferry systems in the world and is as committed as we are to providing safe and reliable service to the people and communities of B.C.͛s west coast.”
The investment will also support greenhouse gas emission reductions by electrification of vessels and other initiatives to “green the fleet and operations.”
By March 31, 2023, the BC Ferries commissioner will determine the preliminary annual fare increase for the next four-year period which will start on April 1, 2024.
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