B.C. Finance Minister Selina Robinson announces $1.3-billion budget surplus, instead of projected deficit of almost $10-billion
British Columbia’s public accounts have registered a surplus of $1.3-billion, in sharp contrast with a forecast deficit of almost $10-billion, as the province experienced a stronger-than-expected economic turnaround.
Robinson said the improved bottom line could be attributed to reopening the economy and the resultant increase in tax revenue, one-time federal contributions for COVID-19 and disaster events, higher natural resource revenues and higher Crown corporation earnings, especially at the Insurance Corp. of B.C.
Robinson said the government was preparing to introduce initiatives next week to address cost-of-living measures. The New Democrats knew last spring their budget was heading for a surplus, but waited until the late summer to announce assistance plans, he said. Green Leader Sonia Furstenau said the government had been building a budget surplus while one million people in B.C. were without a family doctor and ambulance services faced delays or were unavailable.
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