Over the weekend, the province announced $500 million in new funding for BC Ferries to lower fare increases for for passengers.
During a press conference in Vancouver Sunday, Premier David Eby said through a recent submission to the BC Ferries commissioner showed global inflation over the past 18 months could see a fare increases of 10.4% a year between 2024 to 2028.
“Every day, people use BC Ferries to get to work, and visit family and friends, as well as plan vacations,” said Premier David Eby.
“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.”
The BC government said the goal with the investment is to keep annual average fare increases below 3% a year.
“Our government recognizes the importance of reliable and affordable ferry service for travel and goods movement,” Rob Fleming said, BC’s minister of transportation.
“It is vital that ferries are well served and supported.”
According to the province, the increase in fare costs is tied to increases in things such as fuel and inflation.
Final fare increases for the next four years will be determined by the BC Ferries commissioner by March 31st, which will kick in on April 1st, 2024.