Spending pressures mean smaller surplus for B.C. budget: minister
VICTORIA — Finance Minister Carole James says she’s optimistic about British Columbia’s bottom line even though the budget will have a smaller surplus.
The 2017-18 budget has a projected surplus of $190 million, $56 million less than the NDP forecast earlier this year, James said Tuesday in releasing the province’s second quarter fiscal update.
The economy is still projected to grow by 2.9 per cent.
Government revenue has dropped by $283 million, largely because it has collected less in personal and corporate income tax, James said. Wildfire costs were also up by $152 million since September’s update.