Finance Minister Katrine Conroy said Wednesday (Feb. 21) that B.C. will run a deficit for the second straight year amidst a slowing global economy, but added this is the wrong time to trim spending.

害羞草研究所淥ur budget is targeted to middle-class, average British Columbians that are struggling to make ends meet right now and we want to make sure that we are providing the support to people, the services to people,害羞草研究所� she said. 害羞草研究所淲e are not going to be cutting services and we are not going to be raising taxes on ordinary British Columbians.害羞草研究所�

Conroy made those comments at a community centre in Victoria in anticipation of tomorrow害羞草研究所檚 budget. She said B.C. is not immune to global economic developments.

害羞草研究所淲e will see an increase in our deficit, because it害羞草研究所檚 the right thing to do right now,害羞草研究所� she said. 害羞草研究所淲e will have a declining deficit (over time). You will see that tomorrow.害羞草研究所�

RELATED:

Figures from November show the provincial deficit at $5.5 billion during the second fiscal quarter of 2023, down from $6.6 billion in the first fiscal quarter.

She also acknowledged concerns about the economic impact of three major resource projects winding down, including Site C. The Economic Forecast Council, an independent 13-member group of economists, raised that issue in December.

害羞草研究所淏ut at the same time, we害羞草研究所檝e got considerable other projects ready to go,害羞草研究所� Conroy said. 害羞草研究所淪o we are building hospitals, we are building schools, we are upgrading schools, we are building housing right across the province. So there will be employment for people.害羞草研究所�

She added other, unspecific projects are on the table.

Looming over tomorrow害羞草研究所檚 budget is the introduction of a flipping tax, as promised by Eby. Conroy was asked if this not being the time to raise new taxes meant that tax would not be not in the budget.

害羞草研究所�(This) is not the time to raise taxes for ordinary people. We don害羞草研究所檛 see ordinary people having to pay more taxes when they are already struggling and we want to make sure that we are continuing to provide services.害羞草研究所�

RELATED:

Conroy害羞草研究所檚 comments echoed comments Premier David Eby had made Tuesday in Vancouver, as well as parts of the Speech from the Throne, which hinted at additional relief for small business. Various groups have been lobbying the provincial government to raise the threshold on the Employers Health Tax.

Conroy害羞草研究所檚 budget also comes after Eby had said last fall that he is looking for affordability measures, hinting at a hydro rebate.

害羞草研究所淚 am absolutely looking for big affordability measures for British Columbians and I want them to shine,害羞草研究所� he said. 害羞草研究所淚 want British Columbians (to know) that we are delivering for them on affordability. I have asked every single minister, 害羞草研究所楲ook at the your file, find ways to deliver affordability for British Columbians.害羞草研究所櫤π卟菅芯克鶟

RELATED:

Conroy said the budget will help British Columbians with day-to-day costs and to find the housing they can afford.

害羞草研究所淚t will also strengthen and protect health care in this province and Budget 2024 will build a stronger, cleaner economy with opportunities for everyone right across the province,害羞草研究所� she said.

BC United shadow finance minister Peter Milobar said the NDP government doesn害羞草研究所檛 have a revenue problem, but a spending problem, while lamenting the high level of taxation.

害羞草研究所淲hat the public cares about is actually their overall affordability in their individual households,害羞草研究所� Milobar said. 害羞草研究所淲e are hearing very clearly from them is that they want to see tax relief in a very real and tangible way, not just some big shiny announcement concocted by government trying to appease people for a month but doesn害羞草研究所檛 really have any long-term and sustained impact on their households,害羞草研究所� he said.

Part of the government害羞草研究所檚 spending problem lies in the inefficient use of taxpayers害羞草研究所� dollars, Milobar added. The fact that government is planning to pay people earning up to $190,000 a subsidy to rent through BC Builds speaks to the growing unaffordability of B.C., he said.

害羞草研究所淚f ever there was something that would indicate just how far out of touch this government has become with people害羞草研究所檚 household costs, it害羞草研究所檚 probably the most latest announcement,害羞草研究所� he said.

BC Green Leader Sonia Furstenau said she was disappointed the throne speech did not talk about inequality.

害羞草研究所淲e have a growing inequality crisis in this province and government has specific tools and mechanisms, investments it can make in order to alleviate the pressures of that inequality for a large number of people,害羞草研究所� she said.

She said several areas of public life including transit and education are underfunded.

害羞草研究所淪o what I would like to see from a soc-called social-democratic government is investments into public services that will actually alleviate the enormous strain that is on British Columbians right now.害羞草研究所�

Possible measures include a wealth tax or windfall profit tax.

害羞草研究所淭hey need to cooperate with the federal government to achieve these,害羞草研究所� she said. 害羞草研究所淲e absolutely need mechanisms to address this growing inequality gap. I will see very disappointed if I don害羞草研究所檛 see action on that.害羞草研究所�