Once again Eby demonstrates he is a downgrade from Horgan by ushering in his fourth and fifth credit rating downgrade

Conservative Party of British Columbia Leader John Rustad is sounding the alarm after S&P Global and Moody’s announced credit downgrades for British Columbia, dropping the province’s rating due to continued record deficits. This marks the fifth credit downgrade under Premier David Eby’s NDP government.

“This is a direct consequence of reckless spending and economic mismanagement by David Eby,” said Rustad. “British Columbians are paying more and getting less. Now, we’re paying the price with a weaker credit rating, which means higher borrowing costs for our province.”

Credit downgrades came with the following warning,

“The negative outlook reflects a one-in-three chance that we could lower the ratings in the next two years if, in our view, the province's commitment to fiscal consolidation continues to waver, as reflected by persistent and substantial deficits.”

The report continues stating “The province's commitment to fiscal discipline and stability has wavered in recent years as B.C. has materially increased its spending for both operations and capital investment to unparalleled levels.”

Rustad added: “While global challenges are real, strong leadership can weather any storm. But instead of preparing for the future, this government keeps digging us deeper into debt, with no plan to get out.”

“From 2007 to 2017, B.C. saw seven credit upgrades. Under the NDP, there have now been four credit downgrades, all under David Eby,” said Rustad. “This isn’t just bad luck. It’s bad government.”

The Conservative Party of British Columbia has consistently called for responsible fiscal management, targeted investments, and respect for taxpayers.

“(Once again we've seen) that David Eby is no John Horgan, as he has delivered BC two additional credit downgrades,” said Peter Milobar, Conservative Opposition Finance Critic and Kamloops-Centre MLA.

“This province has shown zero fiscal discipline, pushing us well past BC's historic $11 billion dollar deficit and more deeply into uncharted territory. Moody's has predicted that BC will exceed a $14 billion deficit. Now, BC gets to watch as Premier Eby brings us to a fifth credit downgrade in his third year as Premier.”

Rustad concluded: “British Columbians deserve better than a government that keeps spending like there’s no tomorrow. The next generation shouldn’t be saddled with the cost of today’s political recklessness.”

The Conservative Party is committed to restoring financial discipline and putting British Columbia back on track.