The Province has introduced legislation to modernize the Pension Benefits Standards Act and allow the private sector to offer a wider choice of pension-plan options so that more British Columbians can have access to pension income during their retirement years.

Changes to the Business Corporations Act would allow for a new hybrid type of company - the community contribution company - that combines socially beneficial purposes with a restricted ability to distribute profits to shareholders.

The Province has concluded an agreement with the Government of Canada for the orderly repayment of the $1.6 billion in transition funding it received when B.C. moved to the Harmonized Sales Tax, Minister of Finance Kevin Falcon announced.

British Columbia continues to face challenging global economic conditions, but fiscal prudence and a focus on a competitive economy that creates jobs and attracts international investment will help B.C. manage these risks, Finance Minister Kevin Falcon said in a speech to the Vancouver Board of Trade.

British Columbians who own homes worth up to $1.285 million may be eligible to receive the entire homeowners' grant this year, after the Province raised the threshold to accommodate rising property values.