B.C.’s fiscal update projects deficit dip but does not include flood, mudslide costs

VICTORIA — British Columbia’s finance minister says the province’s economy was on track toward a strong economic rebound in its latest financial results to the end of September, but uncertainties remain, especially stemming from the damage caused by recent floods and mudslides.

Selina Robinson says the province will factor in the cleanup costs associated with the disastrous floods and mudslides that hit communities, highways and railways in February’s budget.

Solicitor General Mike Farnworth hasn’t been able to provide an estimate on last week’s damage other than to say it would be a huge cost for the province.

Robinson says the fiscal update shows an improved outlook for the province, with the deficit projected at $1.7 billion for the 2021-22 fiscal year.

That’s down from a previous projection of $4.8 billion.

She says revenues have also increased by more than $3 billion in recent months.

This report by The Canadian Press was first published Nov. 22, 2021.

The Canadian Press