Foreign investment accounted for nearly 6% of the approximately 48,000 residential real estate transactions in British Columbia between June 10 and Aug. 31, 2016, amounting to about 8.8% of the $31 billion in residential property that changed hands, according to the latest real estate transaction data released by the provincial government.

The Select Standing Committee on Finance and Government Services is inviting British Columbians to share their priorities for the next provincial budget with the release of the Budget 2017 Consultation Paper.

The B.C. government is cancelling the planned four-per-cent increase to MSP premiums, and those eligible for Regular Premium Assistance will see a four-per-cent reduction of their premium beyond what was announced with Budget 2016.

The Province of British Columbia has successfully issued an Indian Rupee denominated bond on the London Stock Exchange, making it the first-ever foreign government to issue a bond in the Indian offshore market and strengthening increasingly important trade and investment ties with India.

Legislation introduced creates new measures to help make home ownership more affordable, establishes a fund for market housing and rental initiatives, strengthens consumer protection, and gives the City of Vancouver the tools it requested to increase rental property supply.

The initial board of directors for the Capital Markets Regulatory Authority has been chosen and new timelines for implementing the authority have been set, announced Finance Minister Michael de Jong on behalf of the Council of Ministers.

Canadian economist Bev Dahlby has been named as chair of the B.C. Tax Competitiveness Commission.