Rather than adopt the discipline necessary to get back on track, Ottawa simply moves the goalposts.
debt and deficit
According to projections, government debt interest will cost nearly $1,000 per British Columbian by 2026/27.
The province's combined personal income tax rate at $50,000 of income is the fourth-highest in North America.
These deficits have fuelled an $867.2 billion increase in gross federal debt from 2014/15 to 2022/23.
This year, the province will spend a projected $548 million on provincial debt interest.
The provincial government revised its $1.0 billion projected budget surplus to a $250.5 million projected deficit.
The province's net debt will reach a projected $3.2 billion by 2025/26.
At last update, the province’s budget deficit was $440 million for 2021-22.
Canada has the fifth-highest level of total government debt among 29 industrialized countries.
The Trudeau government plans to implement new spending programs including national childcare and pharmacare.