Tax revenues up, ICBC losses weigh heavily on provincial books.
The NDP minority government will keep B.C. finances in the black for the next three years, thanks to strong economic growth, Finance Minister Carole James says.
James’ first full budget predicts a surplus of $219 million in the fiscal year starting April 1, with surpluses of more than $280 million in the next two years. That is despite what the government describes as record investments in housing and child care and another large increase in health care spending.
The latest projections from the finance ministry show increased taxation and resource revenues this year, offset by $884 million less revenue from ICBC and $183 million more than forecast in wildfire costs for 2017-18.
Economic growth is projected to be 2.3 per cent in 2018, up from 2.1 per cent estimated last September.
