Tuesday, June 16, 2026
ADVT 
National

B.C. budget deficit forecast to hit $13.6 billion

Darpan News Desk The Canadian Press, 17 Dec, 2020 06:15 PM
  • B.C. budget deficit forecast to hit $13.6 billion

British Columbia's deficit forecast has grown and the budget shortfall is now expected to hit $13.6 billion in this fiscal year.

The government predicted in September that the province would end the year with a $12.8 billion deficit.

In February, the government projected a budget surplus of $227 million for 2020-21 but that was before the impact of the COVID-19 pandemic.

The Ministry of Finance predicts B.C.'s economy will decline by 6.2 per cent this year, but growth is expected to rebound to three per cent next year.

Finance Minister Selina Robinson said the economy might not perform at pre-pandemic levels until late 2022 or early 2023.

“We’ve been through a year like no other,” Robinson told a news conference on Thursday.

“The path forward remains uncertain.”

Robinson said the government will table its budget on April 20 after legislation was passed on Wednesday night allowing the government to delay its introduction from the traditional date in February.

Documents released by the Finance Ministry show that more than $10 billion has been spent by B.C. on measures related to COVID-19 including almost $2 billion in pandemic relief funds.

Legislation is expected to pass on Thursday that allows for payments of $1,000 to eligible families and $500 to individuals.

Premier John Horgan promised to the pandemic recovery funding during October's election.

MORE National ARTICLES

B.C. mayors seek meeting with provincial leaders

B.C. mayors seek meeting with provincial leaders
The BC Urban Mayors' Caucus has sent letters to NDP Leader John Horgan, B.C. Liberal Leader Andrew Wilkinson, the Green party's Sonia Furstenau and Conservative Leader Trevor Bolin.

B.C. mayors seek meeting with provincial leaders

Ex-PM John Turner eulogized at state funeral

Ex-PM John Turner eulogized at state funeral
The U.K.-born Turner, Canada's 17th prime minister, died peacefully at home on Sept. 19, his family said. He was 91.

Ex-PM John Turner eulogized at state funeral

Churchill Falls: Innu make $4-billion claim

Churchill Falls: Innu make $4-billion claim
Senior Innu leaders said Tuesday the provincially owned utility illegally took land from the Indigenous group without consultation in the late 1960s as construction started on the Churchill Falls hydroelectric project in central Labrador.

Churchill Falls: Innu make $4-billion claim

Feds approve first antigen rapid test

Feds approve first antigen rapid test
Canada has also signed a contract with Abbott that will see the company ship 20.5 million of the ruler-sized test devices to Canada.

Feds approve first antigen rapid test

Liberals face next confidence test this evening

Liberals face next confidence test this evening
NDP Leader Jagmeet Singh has said his party will support the speech after winning some key changes to legislation last week setting up new benefits for workers left jobless or underemployed by the COVID-19 pandemic.

Liberals face next confidence test this evening

PBO: 'Superclusters' falling short of expectations

PBO: 'Superclusters' falling short of expectations
The private and academic partners in the endeavour were expected to spend over $1 billion over the same time.

PBO: 'Superclusters' falling short of expectations