B.C. adds $450-million to record deficit following math error, expensive wildfire season
British Columbia's budget deficit has increased by $450 million due to a significant math error regarding natural gas royalties and higher-than-expected wildfire fighting costs. Finance Minister Josie Osborne noted that the province faces economic uncertainty exacerbated by trade tensions with the U.S.
Why it matters
Fiscal mismanagement and climate-related emergency costs are putting significant strain on provincial budgets, complicating long-term economic planning.
B.C. Finance Minister Josie Osborne says wildfire fighting costs are projected to be $614-million more this year. CHAD HIPOLITO/The Canadian Press
British Columbia’s record budget deficit is now seen to be $450-million higher than previous estimates, and Finance Minister Josie Osborne chalked it up to factors including a math error that resulted in an earlier overestimation of natural-gas revenue and an expensive wildfire season.
The additional $450-million brings the 2026 budget’s overall debt to $13.8-billion for the fiscal year that began in April, according to Monday’s fall update from Ms. Osborne, who took over the portfolio last month.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in