B.C. maintained budget surplus for 2017-18, despite increased spending

The B.C. government reduced its debt and achieved a balanced budget

British Columbia maintained its budget surplus in the last fiscal year even though it boosted spending on government programs by almost $3 billion and covered significant expenses from disastrous wildfires in 2017.

Finance Minister Carole James said the government reduced its debt and achieved a balanced budget despite historic losses at the Insurance Corporation of British Columbia.

James said regardless of what it will cost to fight fires, there is money in the budget.

RELATED: Non-profits, schools get break on B.C. health payroll tax

The audited financial statements were released today, and showed an operating surplus of $301 million for 2017-18, which is $55 million higher than the surplus forecast in the budget update last fall.

Revenue was $571 million higher than the previous year, mostly due to increased federal transfers resulting from revised population estimates and higher taxation revenue.

RELATED: No break from health tax for municipalities

James said overall, the province is seeing long-term economic growth.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Agassiz Community Health Centre welcomes its newest doctor

Nikki Cohen is one of three doctors practicing at the local health clinic

No home for Agassiz Community Garden on school district land

The garden is still homeless after SD78 said no to the society using the McCaffrey School property

Life rings, signs to improve safety on Harrison waterfront

Harrison council approved $125,000 in aquatic safety projects for the beach

PHOTOS: Harrison students take on the Bunny Run

Harrison Hot Springs Elementary students dressed up for the Easter event

No more mobile vendors on Harrison beach

The approval of an updated business licence bylaw means Nolan Irwin is without a cart

VIDEO: Agassiz, Harrison celebrate National Pet Day

From cats and dogs to lizards and chickens, residents showed off the animals that enrich their lives

RCMP confirm witnesses say body found at Kelowna’s Gyro Beach

Police tape is blocking part of the beach and several RCMP officers are on scene.

Police say ‘no major incidents’ at 4/20, Vancouver Park Board assessing

The first smoke-out held since legalization saw 60,000 people at Vancouver’s Sunset Beach

VIDEO: Langley firefighters spend hours battling blaze in vacant home

Cause of the late-night fire in Willoughby is still under investigation

B.C. fire department rescues kittens

Enderby homeowner not aware kittens in wood pile near garbage pile fire that got out of hand

RCMP looking for witnesses to four-vehicle crash in Burnaby

Police suspect impaired driving was a contributing factor

QUIZ: How much do you know about Easter?

Take this short quiz and put your knowledge to the test

B.C. VIEWS: NDP’s lawyer show is turning into a horror movie

Court actions pile up over pipelines, car insurance, care aides

Most Read