Vancouver Sun: B.C. budget expected to focus on child care, climate change, Indigenous reconciliation


A $10-billion deficit had been projected at the start of the fiscal year in April, 2021. By December, the projection had dropped to a $1.7 billion deficit for the fiscal year that ends on March 31.

Ken Peacock, the chief economist at the B.C. Business Council, believes the rosier picture is due to government spending less on the pandemic than it had anticipated, while revenues were up because of higher prices for exports, a hot housing market and pent-up consumer spending as COVID restrictions eased.

“That will continue in 2022 and we will get a boost from increased travel as well, but that will change in 2023 when we are projecting growth of around two per cent,” Peacock said.

Full Article.

Also seen on the Times Colonist.