Budget road show begins as B.C. premier touts fiscal plan ahead of election

Now that the provincial budget is out, B.C. Premier David Eby is hitting the road with the hopes of selling his party’s fiscal plan to the public.

This all comes just months before British Columbians are set to head to the polls, with an election slated for Oct. 19, 2024.

Speaking at his first stop, Eby addressed Vancouver’s business community, touting the various measures and spending outlined in the budget aimed at helping people in this provice.

“We look at ourselves across Canada and we think we’re doing pretty well,” the premier said Friday.

“It is a challenging time for people and, at the same time, our province is in a really remarkable place — record-setting population growth.”

Budget 2024 includes a lot of spending, which was to be expected in an election year. With the focus on investments, the budget projects the deficit will hit $7.9 billion — which would be the highest ever.

Opposition and BC United Leader Kevin Falcon has criticized the government’s plan, calling it reckless spending that could trigger a credit rating downgrade.

However, Eby doubled down on the messaging put out by his finance minister, saying the province needs to spend more money now to help British Columbians and local small- and medium-sized businesses.

“This is meant to be a boost in the arm for businesses that need it right now, as they see their costs going up, to make sure that they’re able to deliver employment, support local communities. We know that small- and medium-sized business drives this province and we’re going to continue to support them,” he said, highlighting reductions to the employer health tax.

“The budget is a reflection of, I think, our shared goal in this room, which is that every single British Columbian should have an opportunity to build a good life in this province.”

Deficit concerns

Eby was speaking to a crowd at the Greater Vancouver Board of Trade Friday. On Thursday, GVBoT President and CEO Bridgitte Anderson said the board was applauding the BC NDP’s small business relief measures. However, she said there were concerns about the rising debt and potentially record-setting deficit.

“We’re giving the budget a C and that really is because there is some relief immediately for businesses — particularly small businesses — around the EHT, which was our number one ask. But we are concerned about the future and what this means for tomorrow. When we look at the increase in debt and also deficit, we are wondering about the sustainability of this going forward,” she said.

“It is still a very high-cost environment and businesses are really struggling with that.”

Meanwhile, the Canadian Taxpayers Federation said it was “hugely disappointed” with the budget, saying the government should be focused on paying down the debt.

More announcements are also expected in the coming months, with Eby saying some will be centered around improvements to transit and education.