Victoria B.C: In the wake of Finance Minister Brenda Bailey’s recent remarks previewing a “tough budget” and acknowledging B.C. “can’t have the accumulation of debt continue,” the B.C. Conservative Caucus is calling out years of reckless NDP spending that have driven the province into record deficits and a crushing debt burden.

Debt has exploded under Premier David Eby. When Eby took office in 2022/23, provincial debt was $89.4 billion. It is now projected to top $155 billion this fiscal year—an increase of roughly 75% in just three years.

Despite this massive run-up in spending and debt, life has gotten harder for British Columbians. As the Minister says it is “time to make difficult decisions to secure our future and protect critical services,” people are facing the consequences of this government’s choices.

“The numbers show that nearly every aspect of life in British Columbia has gotten harder under the NDP government, despite unprecedented spending,” said Peter Milobar, MLA for Kamloops Centre and Official Opposition Critic for Finance. “Where has all the money gone? When the government is previewing cuts and new difficulties for families in the upcoming budget, it’s a question that must be asked. Under this Eby government, announcements haven’t translated into actions or outcomes.”

The B.C. Conservative Caucus has been sounding the alarm about B.C.’s deteriorating finances for over a year amid multiple credit downgrades. The cost of government borrowing is now effectively the fourth-largest line item in the provincial budget. Debt-servicing costs consume about 5% (five cents of every tax dollar) making that budget larger than all but three ministries (Health, Education, and Social Development).

“This government inherited strong finances and squandered them. Families are paying more and getting less while the NDP piles on debt our kids will be stuck paying for generations. It’s time to get back to basics, restore fiscal discipline and present a credible plan to balance the budget,” added Milobar.

British Columbians deserve a government that lives within its means, protects core services, and lays out a believable route back to balance. The Minister’s comments confirm what families and businesses already know: after years of reckless NDP spending, the bill has come due.

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Media Contact:
Francesca Guetchev, Press Secretary
Francesca.Guetchev@leg.bc.ca
+1 (672) 922-0948