Conversations That Matter: B.C.’s budget quagmire

The Conservatives won a decisive victory in the Oct. 24 provincial election and at the top of its agenda was B.C.’s deteriorating fiscal health.

Premier-designate Lorne Doerkson said that, on Day 1, he would launch an independent financial review panel to investigate the province’s books.

“The fiscal situation in B.C. has crashed over the past five years,” warns economist David Williams. “In 2020 we were one of the strongest subnational jurisdictions in the world. Today, B.C. is running up debt faster than any other subnational jurisdiction in North America.”

Operating costs have risen by 39 per cent while revenue is up only 18 per cent, Williams says.

“It’s unsustainable. Everyone knows you can’t spend more than you make.”

Williams joined a Conversation That Matters on B.C.’s budget, where to from here and how? See the video at vancouversun.com/conversations.

Learn More about our guest’s career at careersthatmatter.ca

Join us Nov. 17 for a Conversations Live, on international students and Canada’s labour gap.