The provincial deficit dropped by $3.3 billion to $7.7 billion in 2025/26: Bailey
Higher revenues, led by a tobacco settlement, and lower capital spending cut the province’s deficit by $3.3 billion from budget forecasts.
- The British Columbia government reported a $7.7 billion deficit for the 2025-2026 budget year, finishing $3.3 billion lower than the original $10.9 billion forecast.
- Finance Minister Brenda Bailey stated the government would be "re-pacing" several projects earlier this year as part of a larger plan to trim back the deficit.
- Revenues were $2.86 billion higher than budgeted, mainly due to a legal settlement with tobacco companies that will pay $3.6 billion over 18 years.
- Spending on hospitals, schools, and post-secondary facilities dropped by around $4 billion, which the government cited as "project scheduling changes."
- Despite the deficit improvement, provincial debt reached $154.7 billion, rising about $700 million from the previous forecast.
24 Articles
24 Articles
The Toronto Star
The provincial deficit dropped by $3.3 billion to $7.7 billion in 2025/26: Bailey
VICTORIA - The British Columbia government says the final accounting for the budget year ending in March shows a deficit of $7.7 billion, more than three billion lower than forecast.
The Jetten cabinet may be on vacation, yet the ministerial team is grappling with stress. Over the coming month, the budget must be put together that will be proudly presented on Prinsjesdag. But it looks set to be anything but a celebration. A list of the biggest headaches.
bd.nl
bndestem.nlThe Jetten cabinet may be on vacation, yet the ministerial team is grappling with stress. Over the coming month, the budget must be put together that will be proudly presented on Prinsjesdag. But it looks set to be anything but a celebration. A list of the biggest headaches.
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