Brenda Bailey
The BC government’s 2026 budget announced a series of tax increases, capital project delays, and a reduction of 15,000 public sector jobs over three years. Despite this, major deficits are still forecasted for the indefinite future. “This budget is different from our past budgets, because this moment is different,” said Finance Minister Brenda Bailey in her speech to the legislature on Tuesday. The speech blamed the province’s economic condition on challenges such as US tariffs and a cooling housing market. “It’s time to take a pause on some of the things we want to do to focus on the things we need to do.” A $13.3 billion deficit is forecast for the 2026-27 fiscal year, up from $9.6 billion for this year. …The government announced a diverse range of tax increases that it said would primarily impact higher-income earners, causing an average increase of $76 a year.
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