B.C.'s $69 billion budget includes a projected deficit of $9.7 billion this year, as the province plans for large contingency funds to help groups both during the pandemic and in the recovery afterwards.
A few highlights in the thread to come!
A few highlights in the thread to come!
Deficits are projected indefinitely: $9.7 billion this year, $5.5 billion next, $4.3 billion in 2023/2024.
But the province promises that in the next year B.C. would provide a detailed timeline and approach “to a return to fiscal balance.”
But the province promises that in the next year B.C. would provide a detailed timeline and approach “to a return to fiscal balance.”
Most of the big had been previously announced in the election or the last couple months, including free transit for children under the age of 12, and a permanent $175/month increase to income and disability assistance (though down from $300/month during the pandemic)
- $60 million more in annual base funding for the Ministry of Indigenous Relations and Reconciliation
- $800 million in ongoing business supports in the next year
- $120 million to support tourism recovery, from “major anchor attractions” to community development grants
- $800 million in ongoing business supports in the next year
- $120 million to support tourism recovery, from “major anchor attractions” to community development grants
There's not a lot of big surprises in this budget.
But that's also because there have been SO MANY changes in the last year, including promises during an election, so it's hard to imagine they had much additional room.
But that's also because there have been SO MANY changes in the last year, including promises during an election, so it's hard to imagine they had much additional room.
One of the ministries with the biggest increase in spending by % is the Office of the Premier, from $11 to $15 million.
The province says it's required because Horgan needs to engage with British Columbians more and "directly hear" from them.
The province says it's required because Horgan needs to engage with British Columbians more and "directly hear" from them.
A sidenote: the government tried hard to deliver a virtual budget experience that was helpful to reporters, but it was not great.
There were endless technical glitches with interviews with stakeholders, and it took me 80 minutes to get one technical question answered.
There were endless technical glitches with interviews with stakeholders, and it took me 80 minutes to get one technical question answered.
and i see information on the b.c. budget is mattering much less on the timeline for the moment so i'll stop
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