Despite recent downgrades of B.C.害羞草研究所檚 credit rating, finance minister Katrine Conroy says her government made the right choice by putting people first in the provincial budget.

That was one of Conroy害羞草研究所檚 messages for an audience that turned out to hear her speak at a Kelowna Chamber lunch on April 16.

害羞草研究所淲e know that by supporting people through tough times and providing key services and needed infrastructure we do build a stronger B.C,害羞草研究所� she said.

Taxpayer-supported debt this year is approximately $71.9 billion and projected to reach $126.5 billion over the next three years, Conroy added.

Provincial revenues are forecasted to grow to $86 billion in 2026-2027, up from $77 billion this year, an average annual growth rate of 2.8 per cent.

Conroy said that calls to make deep cuts to services to reduce the deficit are not what people need right now.

害羞草研究所淚t would weaken the public services that we all rely on and drive up costs.害羞草研究所�

Conroy noted that capital spending will increase to $43.3 billion over the next three years to support healthcare facilities, housing, schools, roads, and more.

Kelowna projects include shelters on Crawley Avenue and Highway 97 for people experiencing homelessness, and a new centre for food, wine, and tourism at Okanagan College.

As British Columbians face increasingly higher prices for food, fuel, rent, and other items, Conroy said the province has responded with help including the Family Benefit, and carbon, utility, and rent credits.

害羞草研究所淭hose things add up and it害羞草研究所檚 enough, we hope, to tide people over. We also have one of the lowest unemployment rates in the country and we害羞草研究所檙e training people.害羞草研究所�

Despite the downgrade of the province害羞草研究所檚 credit rating, and not willing to give a date, Conroy said British Columbians will see a balanced budget.

害羞草研究所淚 told some investors 害羞草研究所業 could give you a date.害羞草研究所� But is it realistic? I害羞草研究所檓 not going to do that to people.

Moody害羞草研究所檚 maintained B.C.害羞草研究所檚 AAA rating but with a negative outlook. Standard & Poor revised their rating to AA, also with a negative outlook. Fitch Ratings affirmed its AA+ rating with a stable outlook.

害羞草研究所淲e continue to be the only province with a AAA rating in the entire country,害羞草研究所� Conroy pointed out.

Kelowna-Mission MLA Renee Merrifield called the credit rating reduction a critical red flag in her weekly MLA Minute.

害羞草研究所淧oised to escalate borrowing costs, curtail funding to vital public programs, and burden B.C.害羞草研究所檚 economy. This means when the government borrows money for infrastructure, healthcare, education, or other public services, it now faces higher costs.害羞草研究所�

Merrifield added those expenses are not absorbed by the government alone but are inevitably passed to taxpayers through increased taxes or reduced services.

害羞草研究所淢oreover, the downgrade impacts the amount of money available for public sector projects, whether they are new hospitals, schools, or roads, could see delays or cuts.害羞草研究所�

Merrifield said the credit downgrade 害羞草研究所渟ends a chilling signal to investors and businesses considering British Columbia as a location for investment or expansion.害羞草研究所�

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