• Kelowna's Homepage
  • Vernon's Homepage


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 to ensure they meet our submission guidelines. Approval times will vary. Keep it clean, keep it civil, and stay on topic. Comments remain open for one day after a story is published. If you see a comment that you feel is inappropriate, please use the ‘flag’ feature. Comments appearing here are the opinions of the comment writer, not of Castanet.

More BC News

Vancouver Webcam
Recent Trending
Member of the RTNDA