BC's budget, deficit and debt
BC's Budget 2026 forecasts deficits of $13.3 billion this fiscal year, declining to $11.4 billion by 2028-29. Here are the government's figures, how voters see the budget, and what each party has published on taxes and spending.
What voters say
- Leger (Apr 3–6, 2026): 46% say the government is spending too much; just 10% believe it is managing the budget responsibly; 53% favour a balanced approach to taxes, deficits and services; 35% prioritize deficit reduction even if it means spending cuts (Leger).
- Research Co. (Aug 12–14, 2026): 24% name the economy and jobs as the most important issue (Research Co.).
The facts
Figures from the government's Budget 2026 fiscal plan, released February 17, 2026 (BC Budget 2026 — Fiscal Plan; release):
| Fiscal year | Deficit | Revenue | Expenses | Debt-to-GDP |
|---|---|---|---|---|
| 2025-26 (updated) | $9.6 billion | — | — | 26.1% |
| 2026-27 | $13.3 billion | $85.5 billion | $98.8 billion | 30.6% |
| 2027-28 | $12.2 billion | $88.6 billion | $100.7 billion | 34.4% |
| 2028-29 | $11.4 billion | $91.8 billion | $103.2 billion | 37.4% |
- Taxpayer-supported debt is forecast to rise from $116.5 billion at the end of 2025-26 to $189 billion over the fiscal plan.
- The government says deficits decline through its efficiency review, hiring restrictions and streamlined services, and that BC's debt-to-GDP ratio is “among the best in Canada.” It also says its revenue outlook incorporates trade-related uncertainty due to U.S. tariffs.
How to read this: a deficit is a single year's shortfall; debt is the total accumulated. The debt-to-GDP ratio compares debt with the size of the economy, which is why it is rising here even as deficits shrink.
Where the parties stand
| Party | What it has published |
|---|---|
| BC NDP (government) | Says Budget 2026 makes “careful choices,” with deficits declining from 2026-27 through an efficiency review, hiring restrictions and streamlined services (budget release). |
| Conservative Party of BC | Its platform page describes “A Free and Prosperous BC” that would “encourage investment, get government working for taxpayers, and grow our living standards again.” It gives no specific tax or deficit figures and carries no date (platform page). |
| BC Greens | The 2024 platform proposes a new 22.5% marginal income tax rate above $350,000 ($394.5 million a year), property tax changes to capture the full holdings of owners ($938 million a year) and an 18% rate on corporate profits over $1 billion ($410 million a year), plus carbon tax revenue (2024 platform). |
| CentreBC | Says it will combine a “socially progressive, fiscally responsible” approach; fiscal responsibility and sustainability are among five criteria for its proposals. No tax or deficit figures are published yet (CentreBC; policy page). |
| OneBC | Priority to “trigger an economic boom with an immediate 50% tax cut on income under $100,000” and a 25% cut on all other personal and corporate income. We found no cost estimate on the page reviewed (OneBC priorities). |
How we describe positions: only what a party or the government has published, with a link. Government statements are labelled as the government's claims. Where we found nothing, we say so. Positions come from platform and policy pages reviewed as of September 20, 2026; several parties have not yet published a 2026 platform, and the Conservative and Green pages cited may pre-date the current leaders. BC Vote Watch does not rank or endorse parties. Corrections: see our sourcing rules.
What to watch
Watch for the government's next fiscal update and for parties publishing costed tax and spending plans that can be compared line by line.
FAQ
How big is BC's deficit?
Budget 2026 forecasts a deficit of $13.3 billion in 2026-27, $12.2 billion in 2027-28 and $11.4 billion in 2028-29, after $9.6 billion in 2025-26 (Budget 2026 fiscal plan).
How much debt does BC have?
Taxpayer-supported debt was $116.5 billion at the end of 2025-26 and is forecast to reach $189 billion by the end of the fiscal plan; debt-to-GDP rises from 26.1% to 37.4% (Budget 2026 fiscal plan).
What do voters think of the government's budget management?
In Leger's April 2026 poll, 46% said the government is spending too much and 10% said it is managing the budget responsibly (Leger).