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BC Budgets
All budget provisions are subject to legislative approval.
BC 2024 Fall Economic & Fiscal Update - December 17, 2024
Fall 2024 Economic & Fiscal Update on the BC Government website.
There were no personal or corporate income tax changes proposed.
Forecasts of Federal Debt, Deficits, and Annual Interest
All amounts are in $Billions. Fiscal years end on March 31st.
| Fiscal Year Ending |
Debt | Deficit | Annual Interest |
| 2024 | $107.5 | $5.0 | $3.3 |
| 2025 | 130.0 | 9.4 | 4.7 |
| 2026 | 151.0 | 6.7 | 5.3 |
| 2027 | 172.9 | 6.1 | 6.2 |
2024 debt, deficit, and annual interest are from the Public Accounts 2023/24 document.
2025 debt and deficit amounts are as per Table 1.1 in the Fall 2024 Economic and Fiscal Update (link above). With July 1, 2025 projected population of 5,753,153 (as per Population Estimates & Projections for British Columbia), the debt will be $22,597 for every person in BC, or $90,388 for a 4-person family. This is projected to increase to $117,188 by 2027.
2025 interest and 2026 and 2027 debt, deficit and annual interest are as per Tables A12, A13 and A15 in the September 2024 First Quarterly Report.
The total provincial debt was $64.9 billion on March 31, 2018. The debt is forecast to be double that by March 31, 2025, a 100% increase in 7 years.
BC 2024 Budget - Thursday, February 22, 2024
BC 2023 Budget - February 28, 2023
BC 2023 Budget - on BC Government website
Fiscal measures proposed:
 | Carbon tax is increasing April 1, 2023 by $15 per tonne |
| Re carbon tax: Implement an output-based pricing system for large industrial operations |
| Climate action tax credit will also increase with the carbon tax increase |
| BC Family Benefit increase |
| Home Owner Grant threshold increased to $2.125 million from $1.975 million |
| Extend farmers' food donation tax credit and interactive digital media tax credit |
| Introduce an income-tested renter's tax credit |
| Partial exemption from property transfer tax for new purpose-built rental buildings |
| PST exemption for automated external defibrillators (AEDs) - this begs the question of why there was PST on them in the first place! |
Legislation introduced: Bill 10, Budget Measures implementation Act, 2023 - this includes a provision that they do not have to balance the budget until the 2026-2027 fiscal year, even though the economy is doing well now.
BC 2022 Budget - February 22, 2022
BC 2021 Budget - April 20, 2021
BC Economic Recovery Plan - September 17, 2020
BC 2020 Budget - February 18, 2020
BC 2019 Budget - February 19, 2019
BC 2018 Budget - February 20, 2018
BC 2017 Budget Update - September 11, 2017
BC 2017 Budget - February 21, 2017
BC 2012 Budget - February 21, 2012
- on Ministry of Finance Website, no personal or corporate income tax changes, but did announce a 6% increase to Medical Services Plan premiums to take effect January 1, 2012.
- Budget & Fiscal Plan Part 2 Tax Measures
2011 Tax Relief announced October 2010 - suspended November 17, 2010
2010 Budget & Fiscal Plan - on Ministry of Finance Website
Revised: December 18, 2024