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B.C. debt grows 50 per cent in two years to $134B despite lower-than-expected deficit

BRITISH COLUMBIA, CANADA, AUG 7 – British Columbia's debt rose 24.5% to $134 billion, driven by increased spending on climate emergencies and infrastructure despite a deficit lower than forecast, Finance Minister Brenda Bailey said.

  • British Columbia's final deficit for the fiscal year is $7.3 billion, which is $564 million lower than the original projected number in Budget 2024.
  • Finance Minister Brenda Bailey stated that the lower deficit is due to increased revenue from the Insurance Corporation of British Columbia.
  • Total revenue for the province was about $2.5 billion higher than expected in the budget, despite a decrease in natural resource revenue.
  • The province's total debt reached almost $133.9 billion, which is $2.5 billion higher than the previous year.
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34 Articles

Sask TodaySask Today
+12 Reposted by 12 other sources
Lean Left

B.C. debt grows 50 per cent in two years to $134B despite lower-than-expected deficit

British Columbia is weighed down by rapidly growing debt despite a lower-than-forecasted deficit for 2024, something that Finance Minister Brenda Bailey said the government is working hard to address.

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Kitimat Northern SentinelKitimat Northern Sentinel
+9 Reposted by 9 other sources
Lean Left

Audit finds B.C.’s deficit was $7.35B last year, about $2B less than expected

The provincial government's revised deficit estimate was slightly more than $9.1B, but ended up closer to $7.3B

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Province of BC broke the news in on Thursday, August 7, 2025.
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