Copyright westernstandard
A new report from the Canadian Taxpayers Federation has shone a light on the true cost of British Columbia's rising debt.Since 2018-19, total provincial debt has increased by 136% to $155 billion — that's $27,000 for every British Columbian.Interest payments on the debt have also gone up, amounting to $5.3 billion in 2025-26 alone. They're projected to rise even further in the coming years, hitting $7.6 billion in 2027-28."British Columbians are being buried in debt and crushed by the interest charges on that debt," CTF BC Director Carson Binda said. "Every dollar that goes out the door through debt interest is money that's not going towards core service or making life more affordable for taxpayers through tax cuts.".During a press conference outside Premier David Eby's constituency office in Vancouver, Binda explained that "if debt repayment were a ministry, it would have the fourth largest budget in the province.".He called on the BC NDP to take responsibility instead of labelling the pandemic and Donald Trump as the real culprits of the province's financial situation."This government has abandoned fiscal responsibility," he lamented, "and that's why British Columbians are drowning in debt — it's not a blame game with our neighbours to the south or an international pandemic.".Binda cited a number of moves both big and small he deemed to be fiscally irresponsible on the part of the BC NDP, from hosting the costly FIFA World Cup to serving $57 sandwiches at a taxpayer-funded event in 2024."I don't think most British Columbians could even imagine what goes in a $57 sandwich," he said. "It's like they killed the golden goose and turned its liver into fois gras!"Binda argued that the fact lawmakers opted to purchase expensive sandwiches instead of placing an order at a local mom and pop shop "shows the culture of waste in Victoria."
