VANCOUVER, B.C.: The Canadian Taxpayers Federation is sounding the alarm over runaway deficits in B.C. after the first quarter financial update showed the deficit is already more than a billion dollars over budget. 

“This government has somehow made their abysmal budget even worse,” said Carson Binda, B.C. Director for the CTF. “British Columbians can’t afford massive debts and deficits from our provincial government.” 

B.C.’s provincial debt is projected to rise from a budgeted $123.3 billion to $128.6 billion. Interest charges on that debt have risen from a budgeted $4.3 billion to $4.7 billion. 

“Every British Columbian is on the hook for the equivalent of $940 in interest charges this year alone,” said Binda. “Premier David Eby needs to put down the taxpayer credit card, pick up a pair of scissors and get spending under control.” 

British Columbia has seen a series of credit rating downgrades, from AAA to AA- with a negative outlook. 

“The least our government can do is stick to their own budgets,” said Binda. “Normal families are struggling and Eby’s bad budgeting is making everything worse.”