More British Columbians and people around the world will benefit from the life-changing work of B.C.’s world-renowned life sciences sector thanks to a significant investment in health research.
As announced in Budget 2022 and aligned with the StrongerBC Economic Plan commitment to position the province as a hub for life sciences and biomanufacturing, the Province is providing nearly $195 million in grant funding to Michael Smith Health Research BC (Health Research BC) and Genome BC.
“B.C. has so much to be proud of as we come through the last two years of the pandemic as a global leader in new health technologies, treatments and vaccines,” said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. “This new funding is a significant step to establishing a life sciences hub to support the sector’s growth and diversification and to anchor B.C. as a worldwide leader and developer of new talent, research capacity and life-changing innovation. Life sciences is a powerful sector that touches every part of our lives – from health to the environment to food security, natural resources and more. This is what our economic plan is all about – it’s about building a strong, sustainable province that works for everyone.”
The Province is investing $116.6 million in funding to Health Research BC and another $78 million to Genome BC. These grants will support research in health, agriculture, clean technology and climate change, while also strengthening B.C.’s pandemic and emergency preparedness. The grants will also help attract, develop and retain research talent and support job creation and health research employment and training in B.C.
“B.C.’s life sciences research and companies continue to receive international recognition for playing a key role in the development of new technologies and treatments,” said Adrian Dix, Minister of Health. “By expanding our investments here at home, we are ensuring our public health experts continue to receive world-class research to protect the health and safety of British Columbians while guaranteeing B.C. remains a global leader in research and innovation.”
Throughout the pandemic, B.C.’s life sciences research sector and businesses earned international recognition for their roles in developing new technologies, treatments and vaccines now used around the world. Virtually every COVID-19 vaccine candidate that reached late-stage development in 2020 used components developed or manufactured by a B.C. scientist or company.
“B.C. is in a stronger position to realize improved health through research thanks to a provincial budget that includes support for life sciences,” said Dr. Bev Holmes, president and CEO, Health Research BC. “We thank the provincial government for its continued support of Michael Smith Health Research BC and for recognizing that a healthy society and a healthy economy go hand in hand. This funding will help grow the knowledge economy and health research recovery as it will be used to attract, develop, support and retain people whose research improves the health of British Columbians, addresses health system priorities and creates jobs.”
As outlined as a key new action in the StrongerBC Economic Plan, B.C. will launch a Life Sciences and Biomanufacturing Strategy to position the province as a worldwide life sciences hub by nurturing new talent, developing new lab space, leveraging the research capacities of B.C.’s post-secondary sector and supporting employment across the sector.
“Thanks to the support of the provincial government, genomics will continue to support the rapid growth of B.C.’s life sciences sector,” said Dr. Pascal Spothelfer, president and CEO, Genome BC. “This investment will help impact change in healthcare, climate change, food security and beyond. With these funds, we will continue to support cutting-edge research and innovation, support future researchers, and demonstrate the relevance and value of genomics in delivering significant societal, environmental and economic benefits for the province.”
The StrongerBC Economic Plan moves British Columbia forward by tackling the challenges of today while growing an economy that works for everyone. The long-term plan builds off B.C.’s strong economic recovery and works to address two long-standing challenges – inequality and climate change – by closing the skills gap, building resilient communities, and helping businesses and people transition to clean-energy solutions. The plan sets two main goals for the province – inclusive growth and clean growth – and puts forward six missions to keep B.C. on track.
Quick Facts:
B.C. is home to the fastest-growing life sciences sector in Canada with more than 2,000 companies employing 18,000 British Columbians working on innovations and research to improve health-care delivery around the world.
Made-in-B.C. life sciences products include rapid diagnostic tests for diseases such as HIV/AIDS, hepatitis C and Ebola; protein therapeutics for treating cancer, autoimmune and inflammatory diseases; and the first FDA-approved oral medication for treating adult patients with active lupus nephritis.
B.C. is home to Canada’s largest biotech company, STEMCELL Technologies; Canada’s largest medical device company, Starfish Medical; and Canada’s three largest biotech companies, AbCellera Biologics, Aurinia Pharmaceuticals, and Zymeworks Inc.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
