Finance Minister Carole James speaks at a press conference at the B.C. Legislature in Victoria on July 18, 2019. The economic impact of the coronavirus, it is now clear, will be significant.On Feb.
On Friday, federal Finance Minister Bill Morneau announced $10-billion in stimulus spending – a reminder that B.C. is not standing alone. Nor are the provincial coffers empty – B.C. heads into these uncertain times in a relatively strong fiscal position. B.C.'s balanced budget, however, will likely turn out to be a deficit.
Earlier this month, the business council downgraded its B.C. growth outlook for 2020 from two per cent to 1.4 per cent. “If we were doing the same today, it would fall further,” he said."Likely to one per cent or so. That alone translates into an operating deficit for the province in fiscal 2020-21. And there is lots of downside risk from there.”
Mr. Finlayson believes Ms. James has plenty to do, but worrying about preserving a surplus isn’t a priority.
GlobeBC I don't think anyones budget is going to be the same.
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