The Canadian Taxpayers Federation welcoming ICBC's one-time rebate, and slamming government for making us wait.
"Odd that it's smaller than the average that other Canadian drivers are getting, says Kris Sims, BC Director of the Canadian Taxpayers Federation. "According to the Insurance Bureau of Canada, in their stats back in the summer, the average driver rebate in other parts of Canada was $280."
Premier John Horgan says most BC drivers will be getting $190 rebate. The other thing Sims is bothered by, is the fact the rebate period only covers April 1st to September 30th last year.
"So they're (ICBC) only back dating and calculating from when the lockdown started happening and driving was dropping of from say, mid-March, to September. It's been quite a few months since September. So I'm curious to know if they're factoring in the savings that have happened since then and we're going to get an extra rebate sometime, like later in the summer."
In February last year, the NDP’s 2020 budget forecast ICBC would show a surplus of $86 million in 2020/21, growing to $148 million in 2021 and and $191 million by 2022/23.
The corporation carried a $91 million deficit into 2019-2020. That deficit followed two years with more than $1 billion dollar shortfalls.
"Obviously they that their billion dollar dumpster fire, and now they say that they're doing well," says Sims. "Well clearly, they've used BC drivers' money to put out their dumpster fire."
Rebate cheques should be in the mail mid-March.