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Creative Accounting Can’t Hide a 11.5 Billion Dollar Deficit


Conservative Finance Critic Peter Milobar, MLA for Kamloops Centre, says the NDP government is misleading British Columbians by blaming global tariffs for BC’s ballooning deficit, when the real problem is reckless mismanagement and failed priorities.

“While tariffs and global uncertainty do add pressure to our fiscal position, the blunt of the damage has been caused by this government’s own decisions,” said Milobar. 

“We are now facing the largest deficit in BC’s history —$11.5 billion — not because of external pressures alone, but because of NDP mismanagement.”

Key facts from the First Quarterly Report reveal the depth of the problem:

  • Deficit: Up $655 million to $11.5 billion, the largest in B.C. history.
  • Debt Servicing: Now costing 5 cents of every revenue dollar, the highest since 2005.
  • GDP Growth: Revised down to 1.5% for 2025 and 1.3% for 2026.
  • Capital Spending: $720 million delayed, including hospitals in Burnaby, Abbotsford, Delta, and Lions Gate.
  • Revenue Collapse: Sales tax down $174 million, natural resource revenue down $225 million, property transfer tax down $247 million.
  • Housing Starts: Down 5.8%, despite government projecting growth.
  • Three-Year Projection: Deficits are forecast at $11.5 billion in 2025–26, $12.6 billion in 2026–27, and $12.3 billion in 2027–28 — locking BC into record debt and deficits for years to come.

“We’ve seen over 70,000 people leave British Columbia, youth unemployment climb by 51,000, and business confidence hit rock bottom. These aren’t abstract numbers, they show that families, young people, and job creators no longer see opportunity here under this NDP government. That’s the real cost of mismanagement,” said Milobar. 

“In a time of such uncertainty, the evasiveness from the minister on clear and important issues like the strike and lack of clarity on savings measures shows us that this government lacks a plan moving forward” 

“British Columbians are being told to celebrate $2.7 billion in tobacco lawsuit money stretched over 18 years, while at the same time this government racks up record debt and delays critical hospital projects,” added Milobar. 

“The math doesn’t lie, the NDP has blown a hole in our finances.”

Milobar said the government’s claim of a $1.5 billion expenditure management plan is meaningless when ministries are ballooning, costs are spiraling, and families are paying the price for delays in health care, housing, and infrastructure.

“This government’s priorities are backwards,” Milobar said. “Instead of managing responsibly, they’ve left British Columbians with higher costs, slower growth, and the largest deficit in our history.”

 

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