British Columbia’s public finances have undergone a stunning deterioration in the last few years, leaving the provincial government with less fiscal maneuvering room and likely heralding a period of austerity ahead—regardless of the outcome of the October 19 election.
Back in February 2024, the NDP government presented a budget showing a $7.9 billion operating deficit in 2024-25, the largest in the province’s history. More recent data point to a further jump in the deficit to almost $9 billion. Moreover, according to the Ministry of Finance, record deficits are set to continue across the forecast horizon. Based on the promises being made by the political parties in the current election
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