The Finance Minister says British Columbia’s Second Quarterly Report continues to forecast increased revenues and reduced debt.
Michael de Jong released the report today (Tues).
He says the budget isn’t without some red flags and exports are one of them….
He says lumber is currently our brightest commodity but the softwood lumber agreement with the U.S. has expired and a trade dispute is looming.
Another red flag is the Supreme Court of Canada decision….
BC’s revenues are forecast to increase by 372 million dollars in 2016-17, compared to the first quarter forecast, primarily due to improvements in personal income tax revenues.
Government expense is forecast to be 71 million dollars higher than in the first quarter forecast.
Taxpayer-supported debt is forecast to end the year 2 point one billion dollars lower than was forecast.