Province on Track for Balanced Budget
BC’s Finance Minister has released second quarter budget results.
Carole James says the forecast for growth in the province remains strong at 2.9 percent for 2017 and 2.1 percent for 2018.
However, she says there are a number of fiscal pressures that have resulted in the budget surplus shrinking by $56-million.
“First, there’s been a decrease in taxation revenue. Second, firefighting costs have continued to increase and finally, there’s continued fiscal instability at ICBC. So those are all pressures that we’re going to have to be mindful of as we move ahead to develop the budget for February.”
Despite those pressures, James says the province remains on track for a balanced budget.