The province's net debt increased in 2021/22 by $2.6 billion to reach $55.8 billion.
bc capital budget
Over the next three years, net debt is expected to grow almost 25 per cent.
Finance minister Mike de Jong recently issued a flurry of press releases touting the high credit rating of the BC government by various rating agencies. In one release he said: “The judgment of the rating agencies is an objective confirmation that by balancing our budget and keeping our debt affordable for British Columbians, our finances are on the right track.” Statements like these can mislead British Columbians about the actual state of BC’s finances, which may not be as rosy as the minister lets on.