B.C. deficit tops $1.1 billion

Higher than forecast, despite cutting $668 million in spending. Finance Minister says lower natural gas revenues the big factor

Finance Minister Mike de Jong

VICTORIA – The B.C. government finished the last fiscal year with a deficit of $1.15 billion, according to the audited public accounts released Tuesday.

That’s up from $968 million that was projected as the deficit last year, an indication of the difficult task facing the government to balance the budget in the current year.

Finance Minister Mike de Jong said the government reduced its spending $668 million in the fiscal year ended March, compared to what was budgeted. But resource revenues, mostly natural gas, were down $1.1 billion from the 2012 budget.

Health care spending was up $585 million, education spending rose $300 million and social services spending went up $50 million compared to 2011-12. Total program spending increase 2.6 per cent, higher than the target of two per cent de Jong has set for this year.

Deficits and continued spending on capital projects pushed the province’s total debt up $5.6 billion to $55.8 billion.

“We’ve seen the largest debt increase in the history of British Columbia,” NDP finance critic Mike Farnworth said. “And this is a government that ran around during the election campaign saying it’s going to be debt-free B.C.”

 

Just Posted

Sidney house fire caused by unattended appliance

Saanich Peninsula fire crews were called to a kitchen fire in Sidney… Continue reading

Feasting geese concern farmers

For farmers on the Saanich Peninsula, cereal crops like corn are starting… Continue reading

Cycling Without Age raises funds for program

Free rides for seniors coming to Sidney

Feast of Fields settles in for the summer of 2018

Vancouver Island Feast set for Kildara Farms in North Saanich on Aug. 26

An upstart ferry company might be a Malahat alternative

A new ferry service might alleviate Malahat congestion. Dogwood Ferries is a… Continue reading

New stage highlight of Brentwood Bay Festival

Peninsula Country Market vendors and music accompany start of summer celebration

Late goal gives England 2-1 win over Tunisia

At the last World Cup in 2014, England couldn’t even win a game

Canadian military police officer pleads not guilty to sex assault

Sgt. Kevin MacIntyre, 48, entered his plea today at a court martial proceeding in Halifax

Sidney painter also a preacher

Patrick Chu opens new studio; off to China this month

Cheers erupt as Federal Court judge approves historic gay purge settlement

Gay military veterans said they were interrogated, harassed and spied on because of their sexuality

Helping B.C.’s helpers cope

The MRT has helped almost 7,000 first responders and street workers in 57 communities in B.C.

Border officials argue B.C. man’s Facebook posts threat to Canada’s security

A B.C. Supreme Court judge acquitted Othman Hamdan of terrorism charges last September

Search for capsized fishers near Tofino enters fourth day

“There’s a lot of shock in the community in terms of how we could end up at this place.”

B.C. announces $75M to help friends, family care for seniors at home

Funding will go towards respite care and adult day programs

Most Read