A 60% jump in debt is probably an underestimate, but every province is likely in the same boat. With voters currently in the mood for a pandemic style spending spree and with few mainstream politicians willing to say no, any election is now a matter of choosing which party will get us to bankruptcy the fastest.
British Columbia, Canada’s third most populous province, expects debts to surge by nearly 60% over the next three years…
The fiscal plan sees provincial debt rising to C$209 billion by March 2028 — about 57% higher than today and nearly double the level of a year ago. Ministers argue that the spending is to play catch up on core services like health — more than a third of expenses — neglected after a previous center-right government focused on balancing the books.