B.C.’s fiscal year 2024-25 ended with a $7.3 billion deficit, which was $564 million lower than originally forecast. The province faced high costs and climate emergencies but still managed to make significant investments in key areas like healthcare, housing, and infrastructure.
The government focused on improving healthcare services, investing in B.C.’s Cancer Action Plan and helping over 229,000 people find a family doctor. Over 1,000 new child care spaces were created, and more than 13,600 homes were delivered through the Homes for People Action Plan. The province also spent a record $10.4 billion on vital infrastructure projects, including schools, roads, and renewable energy.
B.C.’s economy showed signs of growth, with real GDP rising by 1.2% and unemployment falling to 5.6%, below the national average. The government also launched new initiatives to strengthen climate resilience in communities. While taxpayer-supported debt increased, B.C.’s debt-to-GDP ratio remains among the lowest in the country.
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