But first…
While today’s feature focuses on B.C., it’s worth a read no matter where you live. Your province could be next.
Across Canada, tax revenues are falling. More people are out of work, and spending is down. Changes to immigration policy have slowed population growth, putting further pressure on government coffers.
B.C. was the first province to release its 2026/27 budget, and it’s not pretty. The deficit is record-setting. Income taxes are going up.
Was B.C.’s situation caused by bad luck or reckless spending? Our feature is below. As always, don’t forget to vote in our poll.
-Neil Malik
Photo via TFoxFoto, Shutterstock
Economic realities
In her speech, B.C.’s Minister of Finance Brenda Bailey said, “We are in a period of serious fiscal pressure. Global uncertainty is slowing growth. Commodity markets are volatile. The housing market has cooled.”
In other words, government revenues that depend on growth, commodities and housing are all under pressure at exactly the same time. That’s a bad combo.
Mismanaged, not misfortune
Global economic factors aren’t entirely responsible for the province’s financial mess. It was Premier David Eby’s homegrown decisions that put us in this position.
Since budget 2023, revenues have only grown by 2 per cent, reflecting weak private sector activity. But operating spending has grown by 17 per cent, leading us to rising debt and record-setting deficits.
In other news
Another Conservative MP has crossed the floor to join the Liberals. (CP24)
In a fun twist, Canada’s Olympic men’s curling team caught someone else breaking the rules this time (CityNews)
Following their Super Bowl win, the Seattle Seahawks franchise is up for sale. Sportico’s latest valuation puts it at $6.59 billion US (Sportsnet)
And in case you missed it, here’s a link to our previous story debating whether MPs should be allowed to cross the floor or not
Where do you stand?
In our last issue, we asked if the federal government’s gun buyback program will help make us safer?
The results:
Yes: 63% ✅
No: 37%
Today’s question is:
After reading both sides, what do you blame more for B.C.'s financial mess?
We’ll publish the results in our next issue.
Until next time!