VICTORIA, B.C.: The Canadian Taxpayers Federation is calling on the B.C. government to cut spending now, following a record-breaking $11-billion deficit presented in Budget 2025.

“Sky-high spending by this government is fueling tax hikes and massive borrowing,” said Carson Binda, B.C. Director for the Canadian Taxpayers Federation. “While your family is going to be slammed with a carbon tax hike on April 1, Premier David Eby is padding his premier’s office budget by more than a million dollars this year.”

Despite assurances that B.C. will scrap the provincial carbon tax once Ottawa removes the federal backstop, B.C.’s budget continues to forecast carbon tax revenue into 2028 and beyond.

“Everyone who has a chance of being our next prime minister, from Mark Carney and Chrystia Freeland to Pierre Poilievre, has already committed to scrapping the carbon tax,” Binda said. “Forecasting carbon tax hikes moving forward, despite commitments to cancel the tax is dishonest budgeting which Eby needs to explain.”

Total provincial debt is forecasted to increase by more than $23.6 billion in 2025-26. The provincial debt will hit $156.6 billion by the end of the year. That’s about $27,500 for every British Columbian. By the end of the year, the provincial debt will be roughly three times as much money as the province collects in taxes every year.   

Big debt leads to big interest costs. Interest payments on the province’s debt will cost British Columbians more than $5.2 billion in 2025. That’s as much money as the province collects in fuel and property taxes combined.

“This budget lays out plans for the province to more than double the provincial debt from when Eby took office,” Binda said. “Eby needs to cut up the taxpayer credit card, end his inflationary debt binge and get the province’s fiscal house in order.”