Quick Facts and Diversified Economy of British Columbia
Budget 2023 Fiscal Plan
Updated
Forecast
($ millions)
2022/23
Budget
Estimate
2023/24
Plan
2024/25
Plan
2025/26
Revenue
82,700
77,690 79,724 82,223
Expense
(74,393)
(80,206) (82,978)
(84,766)
Pandemic Recovery Contingencies
(2,000)
(1,000)
Supplementary Estimates
(2,715)
Forecast allowance
(700)
Surplus (Deficit)
3,592
(4,216)
(500)
(3,754)
(500)
(3,043)
Capital spending:
Taxpayer-supported capital spending
Self-supported capital spending
4,055
8,117 11,813
4,027
Total capital spending
12,172
15,840
12,634 13,098
4,116 2,853
16,750 15,951
Declining deficits of
$4.2 billion in 2023/24 to
$3.0 billion in 2025/26
$37.5 billion in taxpayer-
supported capital spending
over the three-year plan
Debt metrics are lower
Provincial Debt:
Taxpayer-supported debt
Self-supported debt.
Total debt (including forecast allowance)
63,701
Taxpayer-supported debt to GDP ratio
16.4%
Taxpayer-supported debt to revenue ratio
78.7%
100.1%
75,617
29,788 31,607 33,671 34,405
93,489 107,924 122,607 134,300
18.9% 21.3% 23.0%
114.8% 124.9%
88,436
99,395
than in Budget 2022
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