British Columbia's projected deficit for the current fiscal year has increased by $429 million, reaching a record $9.4 billion. The province's debt is expected to hit $130 billion by the end of the fiscal year. While modest economic growth is projected, there are concerns about uncertainties, including potential tariffs from the U.S. The NDP government plans to address the deficit gradually through economic growth rather than service cuts, with significant infrastructure spending planned.
British Columbia's forecasted record deficit for this fiscal year has grown by another $429 million, reaching $9.4 billion.
But she warns that there is also uncertainty looming, including the tariff threat from U.S. president-elect Donald Trump. Those projections also promised more fiscal pain to come, with annual deficits of $6.7 billion and $6.1 billion in the two following years. The costed NDP platform listed about $2.9 billion in what it called new investments up to 2027, and Premier David Eby said at the time that the campaign promises were made so that “the maximum number of people benefit” from the intended affordability relief.
The statement on the hiring freeze cited “a constrained fiscal situation” that requires the B.C. Public Service to make “the best use of its resources.”
DEFICIT ECONOMY GOVERNMENT BC SPENDING
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