The British Columbia deficit forecast has grown by about $450 million to $13.8 billion, largely because of a “calculation error” on natural gas royalties.
Minister Josie Osborne, who just took over the finance portfolio last month, released the first quarterly report today showing almost $800 million more in revenue, but spending was also up.
The added revenue comes from income and sales taxes but wildfire fighting costs are projected to be $614 million more and refundable tax credits for business and renters rose by $458 million.
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The Finance Ministry says businesses are adapting to changes in global trade, with exports rising by 16 per cent to destinations like China, South Korea and India.
It says the overall value of B.C. exports increased 4.2 per cent until July 2026, mostly due to a strong demand for copper.
Natural gas royalties are $531 million lower, which includes a $306 million error from the price forecast in Budget 2026, which the government earlier called a “serious mistake” in the calculation of the price of natural gas.
The gross incompetence shown by Govt is mind blowing.
Good, I fugging hate hate hate BC, hope they go belly up, literally
Being a senior what they did to the property tax deferment interest rate, i will not vote for them.
B.S. its grown more than that try 1.5 billion with there error.
I would have to say the NDP are INCOMPETENT. They are spending great grand kids money and the worst part is. They have not been born yet and they will owe money. And good ol Eby will pat everyone on the back.
and people In BC keep voting these assholes in, tax and spend NDP, another PST increase coming Oct, 1 from these bandits