BC Liberal MLA Jas Johal is defending the right of governments to take capital out of ICBC.
Speaking to CBC in November, Johal insisted that taking money from ICBC that could otherwise be used to reduce car insurance rates was what Finance Ministers are supposed to do:
“We have to remind ourselves that we are the owners of ICBC, we being the people of British Columbia. The surpluses have gone towards vital services as well. Building vital infrastructure… Finance ministers do, once in a while, dip into those Crown corporations to make sure our budget is balanced.” (CBC, 19-11-2019)
Speaking to Global News this week, Johal criticized a law announced on Monday that would ban government from taking surpluses from the public auto insurance company.
Richard Zussman: “BC Liberal MLA Jas Johal says when ICBC is financially healthy it helps all British Columbians.”
Jas Johal: “Governments of all stripes have taken money out of ICBC on the optional side, to pay for other services that governments provides. Health care, education, transportation.” (Global News, 02-03-2020)
The former BC Liberal government raided ICBC for $1.2 billion, a decision that resulted in higher premiums for drivers.
“The BC Liberals are telling the public that if they come to power, they’ll have no concerns about raiding ICBC again, driving insurance rates higher for drivers. I appreciate the honesty, even if I disagree with them strongly. Now British Columbians know exactly why we need this new law.”