Close X
Saturday, November 23, 2024
ADVT 
National

No cuts to people or services, but B.C. budget deficit to rise, finance minister says

Darpan News Desk The Canadian Press, 21 Feb, 2024 02:47 PM
  • No cuts to people or services, but B.C. budget deficit to rise, finance minister says

British Columbia Finance Minister Katrine Conroy says the budget she tables on Thursday will protect services and won't  raise taxes for ordinary residents, but she also forecasts an increased deficit because "it's the right thing to do." 

The minister says the time is not right for the NDP government to bring cuts when most people are facing rising costs for housing, food and other daily staples.

She says the budget will address health care, middle-class housing, a clean economy and incentives for small business.

Conroy says she couldn't pinpoint the size of the deficit, which was projected to reach $5.6 billion late last year, but the budget's long-term outlook forecasts deficit declines.

The government's budget comes less than nine months before a provincial election in the province. 

Conroy, who describes herself as a frugal person, says she will be breaking with tradition for the second year in a row by not wearing a new pair of shoes when she delivers the budget.

 

MORE National ARTICLES

BoC expected to take its time with interest rate cuts after January's job gain

BoC expected to take its time with interest rate cuts after January's job gain
The Bank of Canada will be in no rush to cut interest rates after Statistics Canada reported a larger-than-expected employment gain last month, economists say. The federal agency's labour force survey released Friday said the economy added 37,000 jobs in January after several months of relatively no change in employment. Canada’s unemployment rate fell to 5.7 per cent last month, marking the first decline since December 2022.

BoC expected to take its time with interest rate cuts after January's job gain

Trudeau says he's furious over Bell Media layoffs, calling it a 'garbage decision'

Trudeau says he's furious over Bell Media layoffs, calling it a 'garbage decision'
Prime Minister Justin Trudeau is trash-talking BCE Inc.'s widespread layoffs, calling the cuts a "garbage decision." Trudeau says he's furious over Bell Media's decision to end multiple television newscasts and that the corporation should know better.  

Trudeau says he's furious over Bell Media layoffs, calling it a 'garbage decision'

Bear spray sold illegally: VPD

Bear spray sold illegally: VPD
An undercover operation led by Vancouver police has resulted in 20-thousand-dollars in fines against 10 different businesses that illegally sold bear spray. Vancouver bylaw restricts where bear spray can be displayed in stores, limiting sale of the product to people over age 19 and requiring stores to keep sales records. 

Bear spray sold illegally: VPD

Poilievre pledges to fix broken access-to-information system, release more faster

Poilievre pledges to fix broken access-to-information system, release more faster
Conservative Leader Pierre Poilievre is pledging to fix the federal access-to-information system to speed up response times and release more information. He made the commitment during a news conference in Vancouver on Thursday, where the Opposition leader announced a new revenue plan for First Nations alongside leaders in the region. 

Poilievre pledges to fix broken access-to-information system, release more faster

BC snowpack 40% below normal

BC snowpack 40% below normal
B.C. went on to experience deep and prolonged drought after a record-breaking heat wave in May spurred rapid melting and drying. Then came the province's devastating fire season. Thursday's bulletin says the low snowpack combined with warm seasonal forecasts and "lingering impacts" from the previous drought are creating "significantly elevated drought hazards" for 2024.

BC snowpack 40% below normal

Non-profit buys two B.C. co-ops

Non-profit buys two B.C. co-ops
Premier David Eby says the first purchase using the government's Rental Protection Fund will save 290 affordable rental units in two housing co-ops that have expired leases and were facing the prospect of being sold out from under the residents. Eby says the government's fund will contribute $71 million towards the $125 million acquisition in the Metro Vancouver city of Coquitlam by the non-profit Community Land Trust of B.C.

Non-profit buys two B.C. co-ops