Provincial debt jumps $4B
Finance Minister Mike de Jong says British Columbia's budget posted a surplus that is $200 million higher than forecast but the provincial debt has jumped by $4 billion.
De Jong says the final public accounts numbers, which confirm the government's year-end finances, show a budget surplus of $353 million.
He says government revenues were down $511 million from the forecast in a June 2013 budget update following the spring election.
But de Jong says government spending was down by $561 million from the same forecast.
He says a $4-billion increase in the province's debt now brings the total to $60.8 billion.
De Jong says that on average, salaries for senior public-sector executives were down by one per cent while the number of executives receiving bonuses or incentive pay decreased by six per cent.
Comments on this story are pre-moderated and approval times may vary. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Keep it clean, keep it civil, keep it truthful, stay on topic and be responsible. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then. Comments that appear on the site are not the opinion of Castanet, but only of the comment writer.
Read more BC News
- Legebokoff gets life sentenceBC - 12:26 pm
- Jaws of Life needed for crashKelowna - 1:03 pm
- Teachers reach dealBC - 6:28 am
- Schools ready to welcome kidsCentral Okanagan - 11:55 am