Victoria forecasts $13.6 billion deficit

VICTORIA — The provincial government is forecasting a provincial deficit of $13.6 billion in its Fall 2020 Economic and Fiscal Update. Victoria says that includes an additional $2 billion for new COVID-19 supports though B.C.’s Recovery Benefit and Recovery Supplement.

It’s the Province’s third economic and fiscal update of 2020, which it admits continues to show the economic impacts of COVID-19 on people, businesses and communities.

“The update also shows a lower impact on provincial revenues than projected in the First Quarterly Report, with gains in income, property transfer taxes and Crown corporation net incomes,” reads a news release.