> ICBC in financial trouble

Colten Kamlade
Staff Reporter

 

CBC has announced that they are

considering raising the price of
basic car insurance by 30 per cent.

This comes after the accounting

firm Ernst & Young released a report
claiming that the organization is
no longer financially stable. While
the NDP government has insisted
that they will reject any proposal to
raise car insurance by such a margin,

 

they have not offered an alternative cent is ridiculous, to be honest.” the Canadian Taxpayers Federation has
solution to ICBC’s financial crisis. Shenisse Monzon, a third-year suggested that the government deregulate
Some Douglas College students criminology student and Josh Rasalan, car insurance and allow competition in the
remain nervous about the potential a second-year general studies student, market to drive prices down. This would
hike in car insurance rates. said that while they did not own vehicles, essentially return the system to what it
“T still have my N, so I guess that they believed it would “definitely” was before ICBC was created in 1973.
prices it up even more, and budgeting impact students they knew who did pay Some students are not sure
is really hard when it comes to your for car insurance. There is little doubt this is the solution, either.
everyday living if you go to school that such a large increase in the price “I think there could be some
now,’ said Francis Ataiza, a second-year of car insurance will make students problems there,” said Kendyll
child and youth care student at the tighten their budget, if not force them McGowan, a geology student at Douglas
Coquitlam campus of Douglas College. to take their vehicle off the road. College, referring to the potential
“That will be a big impact. Thirty per In the wake of this uncertainty, lack of government involvement.

Toll fees no more

> Is the removal of toll bridge fees worth it?

Katie Czenczek
Staff Writer

 

Peers no longer have to pay a toll
to cross the Port Mann Bridge and
Golden Ears Bridge as of September 1.

Despite the Green Party’s criticism
of the removal of toll bridge fees, BC
premier John Horgan kept his election
promise to eliminate the tolls.

“You shouldn't have to pay tolls
because of where you live,” Horgan
said at a press conference, after
listing examples of places in British
Columbia where people do not pay
toll fees for their infrastructure.

This will directly affect commuters
traveling from Surrey to Vancouver
and from Maple Ridge to Surrey who
often have to pay up to $1500 one way
within a year, according to Horgan.

For Douglas College students,
the impacts may seem nonexistent
for those who use public transit
regularly. However, those who
travel from Surrey to the Coquitlam
campus will be directly affected.

Sarah Morse, a Douglas
College student, said she is glad
the fees have been eliminated.

“For me, it’s a positive change
as I have to take the Port Mann
Bridge to get to school, and paying

 

 

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[approximately $3] every time you these bridge projects to the Province solution. He suggested paying off the
cross does add up,” she said. is essentially telling northern and toll bridge fees using a kilometres-driven
Revenue generated by the tolls interior British Columbians that model that taxes people depending
was being used to pay off debt the their tax dollars will be subsidizing on how far they travel, instead of what
province incurred to build the bridges. Metro Vancouver commuters,” bridge or highway they used to travel.
Without that revenue, the province Bond told Postmedia Network. “Tt is unfair that a commuter
will have to find money to pay the Marc Lee, a senior economist with the from Surrey to Vancouver, who travels
debt elsewhere, which drew criticism Canadian Centre for Policy Alternatives, the same distance as someone from
from some opposition politicians. said the tolls weren't generating Coquitlam, gets charged $3.15 one way
Shirley Bond, the BC Liberals’ enough revenue to cover the debt. while travelling to work,” Lee said.
finance critic, said she feels elimination “The current tolls in place The Golden Ears Bridge is owned by
of the tolls means people outside were not enough to pay off the TransLink. Therefore, the government
the Lower Mainland will be paying bridges anyway, resulting in the will have to negotiate with TransLink
for bridges they won't ever use. bridges losing money,” he said. the terms upon which the bridge
“Transferring the debt from Instead, Lee offered an alternative debt is expected to be paid off.