Inspired by the discussion on Monday with Stephanie Cadieux, the MLA for Surrey South, during Private Members statements, I reintroduced a Private Members’ bill to protect Registered Disability Savings Plans (RDSPs) and Registered Education Savings Plans (RESPs) from creditors.

Registered Retirement Savings Plans (RRSPs) were first introduced federally in 1957. Legislation enabling Registered Retirement Income Funds (RRIFs) was subsequently brought forward in the late 1970’s thereby permitting seniors to withdraw their RRSP funds over time instead of all at once or through purchase of an annuity. Since that time, most provinces, including British Columbia, have recognized the importance of protecting RRSPs and RRIFs from creditors in the event of personal bankruptcy. They have passed legislation to protect RRSPs and RRIFs from being seized during bankruptcy. This provides a bankrupt individual a glimmer of hope that they will not be destitute in their old age. Here in British Columbia, such seizures are governed by the 1996 Court Order Enforcement Act.

In 2008 the Federal Government passed legislation to allow for the creation of Registered Disability Savings Plans (RDSPs). The RDSP is a federal, tax-deferred, long-term savings plan for people with disabilities who want to save for the future. Unfortunately, under the Court Order Enforcement Act,  RDSPs  are not listed as a registered plan in BC’s legislation and are therefore not exempt from creditor protection. Therefore, should an individual with an RDSP go into debt, their savings in the RDSP will not be protected from seizure.

The province of Alberta has already taken such measures and amended their Civil Enforcement Act to include RDSPs under Section 92.1(I): Exemption of registered plans and registered disability savings plans. Legislation has also passed in Alberta protecting RESPs from creditors.

By ensuring the financial security and well-being of those living with disabilities, we are not only providing the individuals and their loved ones with a sense of security, we are also reducing the strain on social services that incurs when individuals are unable to care for themselves. By also including RESPs in section 71.3 of the Court Order Enforcement Act, we are protecting children who, through no fault of their own, might see their education investment seized by creditors.

Below I reproduce the text and video of my introduction, as well as the accompanying media release.

Text of Introduction

A. Weaver: I move that a bill intituled the Court Order Enforcement Amendment Act, 2017, of which notice has been given in my name on the order paper, be introduced and read a first time now.

I’m pleased to be introducing a bill intituled the Court Order Enforcement Amendment Act, 2017. Inspired by a discussion on Monday, I’m reintroducing this for the second time.

Registered retirement savings plans are protected in this province from creditors in the case of personal bankruptcy. Protecting these funds provides a small safeguard that individuals undergoing bankruptcy will not be completely destitute in their old age. It’s good law that most provinces in Canada have adopted.

However, there is no protection for funds that are part of a registered education savings plan or a registered disability savings plan. These are important funds that need equal protection. Recognizing that a child should not have their education investment seized due to misfortune that befalls their parents, the Alberta government passed legislation a number of years ago protecting RESPs. It’s with this in mind that I bring this bill forward today.

This bill amends the Court Order Enforcement Act to ensure that RESPs and RDSPs are protected by law from creditors.

Mr. Speaker: The question is first reading of the bill.

Motion approved.

A. Weaver: I move that the bill be placed on the orders of the day for second reading at the next sitting of the House after today.

Video of Introduction

Media Release

Andrew Weaver introduces bill to protect RDSPs and RESPs from creditors
For immediate release
November 1, 2017

VICTORIA, B.C. – Andrew Weaver, leader of the B.C. Green Party, today introduced a bill to protect Registered Disability Savings Plans (RDSPs) and Registered Education Savings Plans (RESPs) from creditors. The bill, the Court Order Enforcement Amendment Act, 2017, was first introduced by Weaver in March 2016 and would provide RDSPs and RESPs with the same legal protection as Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Fund (RRIFs).

“A child should not have their education investment seized due to misfortune that befalls their parents,” said Weaver

“RDSPs and RESPs are important funds that British Columbians use to save for their futures. It is only fair that they have the same protection as RRSPs and RRIFs. This protection provides a glimmer of hope to those facing bankruptcy that they will not be destitute in their old age. There is no reason why British Columbians who are eligible for the disability tax credit and contribute it into RDSPs shouldn’t have that same glimmer of hope should they ever face a dire financial situation.

“I have been raising this issue in the house for three years now. Government has had plenty of time to consider it. It is time that government acts to finally give British Columbians’ RDSPs and RESPs the equal protection they deserve.”

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Media contact
Jillian Oliver, Press Secretary
+1 778-650-0597 | jillian.oliver@leg.bc.ca

The long awaited British Columbia Utilities Commission Inquiry Respecting Site C was released today. I am absolutely thrilled with the thorough and comprehensive analysis that was undertaken. The report reaffirms the position that the BC Greens and I have taken on this project for the last five years.

As noted in the report’s Executive Summary:

1. “The BCUC is not persuaded that the Site C project will remain on schedule for a November 2024 in-service date. The Panel also finds that the project is not within the proposed budget of $8.335 billion. Currently, completion costs may be in excess of $10 billion.”
2. “The Panel finds the least attractive of the three scenarios is to suspend and restart the project in 2024. The suspension and restart scenario adds at least an estimated $3.6 billion to final costs and is by far the most expensive of the three scenarios. In addition, the Panel considers it the most risky scenario because, among other things, environmental permits will expire and that will require new applications and approvals.”
3. “The Panel finds the Site C termination and remediation costs to be approximately $1.8 billion, in addition to the costs of finding alternative energy sources to meet demand.”
4. “The Panel finds BC Hydro’s mid load forecast to be excessively optimistic and considers it more appropriate to use the low load forecast in making our applicable findings as required by the OIC. In addition, the Panel is of the view that there are risks that could result in demand being less than the low case.”
5. “The Panel believes increasingly viable alternative energy sources such as wind, geothermal and industrial curtailment could provide similar benefits to ratepayers as the Site C project with an equal or lower Unit Energy Cost.”

It is now up to the BC NDP cabinet to decide upon the fate of Site C. Armed with the BCUC report, it would be fiscally reckless to proceed with construction. The BC Greens will remain vigilant on this file to ensure that the BC NDP make the evidence-based decision to cancel the project.

Cancelling Site C will now take real leadership. I hope that the BC NDP will seize the incredible opportunity that has presented itself to develop a 21^st Century vision for the future of energy in this province.

Below I reproduce the media statement that I issued on the report.

Media Statement

Weaver statement on BCUC Site C Report
For immediate release
November 1, 2017

VICTORIA, B.C. – Andrew Weaver, leader of the B.C. Green Party, issued the following statement in response to BCUC’s release of the Site C report.

“I am pleased that BCUC’s comprehensive review and insightful report have been completed on time,” said Weaver.

“It is unconscionable that the B.C. Liberals demonstrated such reckless disregard for British Columbians and for sound fiscal management by pushing through such a substantial mega-project without proper due diligence and oversight.

“I am very encouraged that the report indicates that alternative energy sources could provide similar benefits to ratepayers as Site C at an equal or lower cost. I have long argued that the plummeting cost of alternative renewables makes Site C the unequivocal wrong direction for B.C.’s energy future.

“Supporting the development of smaller renewable projects presents a significant economic opportunity for all corners of British Columbia. In recent months our caucus has met with numerous communities across the province who are proposing exciting projects like wind and geothermal that would generate jobs and innovation in their communities using private sector investment rather than billions in taxpayer funds.

“Cancelling Site C will take real leadership. I hope that the B.C. NDP will seize the incredible opportunity before us to develop a 21^st Century vision for the future of energy in this province.”

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Media contact
Jillian Oliver, Press Secretary
+1 778-650-0597 | jillian.oliver@leg.bc.ca

The issue of BC Hydro’s two-tier billing is beginning to make the news again and I’m pleased that the new government has committed to looking into it.

Back in 2016, I received correspondence from a number of constituents expressing frustration over the-two tier billing system. I shared and continue to share their concerns. On May 27, 2016 I wrote a letter to Bill Bennett, the then Minister of Energy and Mines, asking for more information.

Electricity (produced from renewable sources) is the cleanest form of heating. We should be encouraging (not discouraging) its use. The idea that multi-tier pricing enhances conservation and efficiency, while theoretically correct, has obvious detrimental consequences. It inadvertently incentivizes fossil fuel use for heating and hot water. It also doesn’t differentiate between large and small homes, the number of people in a particular dwelling or if you drive an electric vehicle. For many, it is simply impossible to stay within Tier 1 year around.

A far more attractive approach would be to introduce time-of-day billing. By charging different rates at different times of the day (which is easy to do since the introduction of smart meters), rate-payers could optimize their energy usage (and help stabilize the electricity load). For example, cheaper rates in the evening or the night (where demand is low) would encourage people to charge their electrical vehicles then (instead of during the day). Programmable dishwashers, dryers and other appliances could also access this cheaper energy.

I look forward to seeing the elimination of the two-tier system. If this is an issue that is important to you, I encourage you to contact the Minister of Energy, Mines and Petroleum Resources at: EMPR.Minister@gov.bc.ca

Today the BC government tabled legislation that would ban union and corporate donations for school board, municipal and regional district elections. An individual donation limit of $1200 was also introduced.

The BC Green Caucus is thrilled to support this new bill. We have been pushing for this for a number of years and we welcome its introduction today. Below I reproduce the press release that we issued in response to this announcement.

I’ll provide a more thorough analysis when I speak to the bill at second reading later this week.

Media Release

B.C. Green caucus welcomes government’s move to ban big money from municipal elections
For immediate release
October 30, 2017

VICTORIA, B.C. – Andrew Weaver, leader of the B.C. Green Party, and Adam Olsen, party spokesperson for campaign finance reform and for municipal affairs, welcomed the government’s move to extend campaign finance legislation to municipal elections. If passed, the move would ensure that the 2018 municipal elections would fall under the new rules.

“I am thrilled for the municipalities of this province that their next elections will be free of the influence of big money,” said Weaver.

“The undue influence of corporate and union donations, particularly from sectors like the real estate development, has eroded British Columbians’ trust that their government is putting their interests first. The B.C. Greens have long pushed to reform the status quo that has made B.C. notorious around the world. 2017 will go down in history as the beginning of the end of the wild west of B.C. campaign finance.”

Olsen added that the move shows that the government has finally heard the pleas of B.C. municipalities for campaign finance reform. Campaign finance reform has been the official policy of the Union of B.C. Municipalities (UBCM) since a resolution was passed in 2015.

“I am very pleased that the provincial government is finally listening to municipalities,” said Olsen.

“As a Central Saanich councillor, I used to come away from UBCM conventions feeling frustrated that the concerns of local government were not heard by the province. This demonstrates that the message has finally gotten through. Local governments around the province can now look forward to 2018 election campaign that puts the focus squarely on the people of their communities.

“We are currently going through the bill and look forward to discussing it in greater detail.”

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Media contact
Jillian Oliver, Press Secretary
+1 778-650-0597 | jillian.oliver@leg.bc.ca

Today one of the BC Liberal leadership candidates, Mike de Jong, MLA for Abbotsford West, announced a platform plank wherein he committed to bring in optional kindergarten for 4 year olds. I released a media statement welcoming his announcement today as it follows in the footsteps of the B.C. Green Party platform which proposed to provide free early childhood education to three and four year olds. Below I reproduce the statement.

Media Statement

Weaver: Mike de Jong’s free kindergarten for 4 year olds is an opportunity for collaborative politics based on good public policy and evidence
For immediate release
October 30, 2017

VICTORIA, B.C. – Andrew Weaver welcomed B.C. Liberal leadership candidate Mike de Jong’s campaign platform plank that would give free optional kindergarten for 4 year olds. This comes on the heels of a Conference Board of Canada report documenting the benefits of investments into Early Childhood Education on Friday. De Jong’s policy follows in the footsteps of the B.C. Green Party platform which proposed to provide free early childhood education to three and four year olds.

“I am delighted that Mr. de Jong is proposing this excellent evidence-based policy as part of his B.C. Liberal leadership campaign,” said Weaver.

“Early childhood education (ECE) yields higher returns than education at any other level. Last week’s Conference Board of Canada report found that every dollar invested in early childhood education yields $6 down the road. Providing free ECE would also help families struggling with the effects of the affordability crisis. This is good public policy that puts people first – plain and simple.

“What’s most exciting is that this demonstrates the enormous opportunity to work together across party lines in order to deliver for British Columbians. We all want the same thing: to ensure a high quality of life for the people we represent. When we focus on common ground, there is no limit to what we can accomplish.

“For far too long, politics in British Columbia has been about power, with opposition parties first instinct to take partisan shots at government with the sole aim of getting back into power themselves. This status quo leads to divisive, inflammatory and unproductive politics, much like we have witnessed south of the border. There is no better opportunity to do things differently than in a minority government. I welcome the opportunity to work with Mr. de Jong, and all members of the B.C. Liberal caucus, on this issue and other ways in which we can collaborate to make good, evidence-based policies a reality for British Columbians.”

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Media contact
Jillian Oliver, Press Secretary
+1 778-650-0597 | jillian.oliver@leg.bc.ca