The problem is not the level of B.C.’s debt, but how quickly it is rising
The first alarm bells over British Columbia’s finances started tinkling last spring, when NDP Premier David Eby rushed to spend billions of dollars in surplus revenue rather than – horror of horrors – pay down the provincial debt.
Those alarm bells are ringing a little louder, after Mr. Eby’s government tabled a budget in February that projects a sharp rise in debt levels through to fiscal 2026-27, prompting the second credit downgrade in a year from the S&P Global ratings agency. Even the projected debt levels of 2027 compare favourably with most other provinces. .
Is the NDP contemplating a period of relative austerity? Or are those numbers understated to keep the deficit and debt picture from looking even more gloomy?
Debt Finances Surplus Province Ndp Horror Government John Horgan NDP S&P Global
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