BC Debt Surge Looms Amid Rapid Rise in Govt. Spending

British Columbia is on the brink of a significant rise in government debt fueled by an increase in spending in recent years, according to a Fraser Institute report. The report compares the government’s current debt forecast to two other periods of rapid debt growth: following the 2008/09 global financial crisis and the COVID-19 pandemic. The report’s findings indicate that B.C.’s government expects an addition of $5,315 per person in net debt over its current three-year fiscal plan. This increase is substantially higher than the increments during the COVID-19 pandemic and post-2008 financial crisis, which saw rises of $1,680 and $3,438 per person, respectively....