The province is on track to add more debt than it did during the 2008/09 recession and pandemic.
british columbia government
By 2025/26, the province will spend an estimated $4.1 billion on debt interest—an increase of 53 per cent over three years.
From February 2020 to June 2023, total employment in B.C. increased by 111,500 jobs—including 104,400 in the government sector.
The province's net debt will reach a projected $97.2 billion in 2024/25.
The province's debt-to-GDP ratio will climb to a projected 22.5 per cent in 2025.
The province now has the fourth-highest top personal income tax rate in Canada and the United States.
An unexpected boost in revenues temporarily forestalled rapid debt growth.
The province expects net debt to increase by $31.2 billion over the next three fiscal years.