British Columbia’s poor fiscal position is not simply the result of external pressures. It reflects a series of policy choices that have driven spending higher while leaving the province increasingly reliant on resource revenues. The province’s
2025 budget places taxpayer-supported debt at just under $100 billion today, with projections rising sharply in the years ahead and some estimates placing that figure in the range of $120 billion in the near term. Annual
deficits, meanwhile, are expected to remain around $10 billion. In that context, it is entirely reasonable for government to examine its revenue sources, including royalties from oil and
natural gas.
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