As industry and advocates get a look at the books, some are raising concerns about what was included and what was left out.
The Independent Contractors and Businesses Association calls the budget out-of-touch and says the deficit, rising debt, and trade war will have dire consequences for the economy and the construction industry.
The BC Council of Forest Industries says it is disappointed by the absence of dedicated support for the forestry sector which will be particularly hard hit by the new tariffs at a time when the industry is already facing significant challenge amid the ongoing softwood lumber dispute.
Bailey told reporters on Tuesday that the budget will focus on education and health care, while also boosting a “self-sufficient economy.”
The Business Council of B.C. says it’s concerned about “the ongoing deterioration in B.C.’s public finances” and what it considers the absence of a credible path to restore fiscal sustainability.
B.C.’s taxpayer-supported debt is projected to be $97.7 billion at the end of 2024-25, approximately $9.1 billion more than was projected in the budget from the previous year.
The deficit is expected to decrease to $9.9 billion by 2027-28.
This report by The Canadian Press was first published March 5, 2024
The Canadian Press
