B.C.’s Bleak Fiscal Future Requires Serious Plan

VANCOUVER, B.C. — In response to the Province’s First Quarterly Report, which forecasts significant deficits of $13.8 billion this year, followed by $12.7 billion next year and $12.0 billion in 2028-29, Bridgitte Anderson, President and CEO of the Greater Vancouver Board of Trade, has issued the following statement:

"The Quarterly Update makes it clear that B.C.’s finances are structurally out of balance. Repeated warnings about the state of provincial finances not been heeded and spending is still growing faster than the economy that pays for it.

By 2028/29, debt is projected to be $236 billion, or nearly 3.5 times larger than it was in 2017.Interest on our debt continues to be one of the fastest growing line items of the budget. The more we spend, the higher those interest payments will rise. We continue to call for a credible plan to, over time, restore health to provincial finances.

This is a serious moment for British Columbia. The challenges facing British Columbia's finances and economy due to trade and tariff uncertainty are real and have affected businesses, workers, and investment decisions across our province. Governments cannot control every external shock, but they can control how they respond.

We need a disciplined approach to spending and an equally strong commitment to growing the economy. That means attracting investment, accelerating major projects, no new tax hikes on business, removing barriers to growth, improving competitiveness, and ensuring British Columbia remains a place where businesses can invest, expand, and create jobs.”

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About the Greater Vancouver Board of Trade:

Since its inception in 1887, the Greater Vancouver Board of Trade has been recognized as Western Canada's leading business association, engaging our members to inform public policy at all levels of government and empowering them to succeed and prosper in the global economy. With a Membership whose employees comprise one-third of B.C.'s workforce, we are the largest business association between Victoria and Toronto. We leverage this collective strength, facilitating networking opportunities, and providing professional development through unique programs. In addition, we operate one of the largest events platforms in the country, providing a stage for national and international thought leaders to enlighten B.C.'s business leaders.

Media contact:

Federico Cerani
Communications Manager 
Greater Vancouver Board of Trade 
604-640-5450 | media@boardoftrade.com