Mr. Speaker, as the Pacific salmon strategy initiative’s, or PSSI’s, financial reporting aligns with broader departmental financial reporting requirements, the total amount of funding spent to date is categorized by vote. Vote 1 covers salaries and wages, operations and maintenance; vote 5 covers capital expenditures; and vote 10 covers grants and contributions.
The total expenditures for PSSI across year one, 2021-22, is $15.4 million, with $5 million for salaries and wages, $9.9 million for operations and maintenance, $500,000 for capital, and no expenditures for grants and contributions. Spending for the current fiscal year, 2022-23, is ramping up given various programs, such as BCSRIF 2, have just been launched in recent months, with final expenditures available by early summer 2023. Under PSSI, BCSRIF was extended to 2026, with an additional $128.55 million in partnership funding: $90 million from the federal government and $38.55 million from BC. On September 15, 2022, application information for the second phase of the BCSRIF program was made available to the public, including how to apply for this funding, with an application deadline that closed on November 15.
The launch year for the PSSI was 2021-22 and focused on finalizing financial and program authorities and engagement with indigenous peoples, partners and stakeholders regarding early program design, implementation and ongoing consultative mechanisms.
For 2022-23, numerous initiatives are under way in year two of the PSSI, with priority areas of action focused on early salmon rebuilding activities; setting up programs, tools and data solutions for transformative shifts; and determining prioritized stocks.
The department is continuing to work to ensure new and ongoing investments and activities in Pacific salmon programming are appropriately aligned to achieve key results. In particular, programs and actions will be implemented to respond to the historic declines of Pacific salmon by putting in place conservation approaches and plans for prioritized Pacific salmon stocks.
Budget 2021 announced $647.1 million over five years, as well as $98.9 million in amortization funds for the PSSI. The resulting $746 million included $4.7 million in revenues that have been lost as a result of reduced revenues from fishing licences. Consequently, the total cash profile for PSSI is $741.3 million over five years.