British Columbia's Record Deficit

This is a B.C. news story, published by Global News, that relates primarily to Brenda Bailey news.

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large government spending

Global News

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B.C.’s projected deficit grows again to $9.4 billion in latest fiscal update | Globalnews.ca

Summary

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69% Informative

The forecasted deficit for 2024-2025 has grown by $429 million from the $8.9 billion estimated in September .

New finance minister Brenda Bailey says she is “realistic” about the economic challenges facing the province.

Bailey said the rising deficit projection will not change the provincial government’s intention to make “smart, targeted investments” to grow the economy, rather than cutting services.

In April , S&P Global Ratings dropped B.C. ’s credit score from AA to AA-minus due to what the agency described as large government spending and the risk of outsized deficits.

Eby said at the time that the campaign promises were made so that “the maximum number of people benefit” from the intended affordability relief.

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semi-formal

Language

English

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