B.C. Premier David Eby says he is committed to keeping taxes low, but that service costs are rising and the province needs to ensure its financial sustainability.
The statement came during a press conference related to economic development Monday and just over a week ahead of tabling the provincial budget.
The latest quarterly report from the Ministry of Finance projects the 2025/26 deficit at $11.2 billion.
“We do face a fiscal reality just like families at home,” Eby said. “The costs of services we deliver for people, whether it is core infrastructure, healthcare or other services like education, those costs are going up.”
Eby did not announce any new layoffs, but jobs have been cut in the public service since the launch of a expenditure management and efficiency review.
On Monday he reasserted the claim that the public sector must be reduced in the face of “significant” budget pressures.
“People are putting off buying a home an it’s showing up in our budget in terms of revenue as a province,” he said. “We have to assume this is the new normal.”
The Premier did make note of investments in trades training to grow the province’s manufacturing sector.
“So that British Columbians who want to can access trades training to do high paid high skilled jobs at … manufacturers across the province.”
While last year’s budget focused on shoring up the economy in face of U.S. tariffs, Eby says the 2026 budget will emphasize the shift to a new Canadian economy.
The budget is set to be tabled Feb. 17.
– With files from David Nadalini