Minister of Finance Brenda Bailey tables her first budget in the legislative assembly at legislature in Victoria, B.C., on Tuesday, March 4, 2025. THE CANADIAN PRESS/Chad Hipolito
Minister of Finance Brenda Bailey tables her first budget in the legislative assembly at legislature in Victoria, B.C., on Tuesday, March 4, 2025. THE CANADIAN PRESS/Chad Hipolito
VICTORIA - Industry and labour groups say the latest British Columbia budget shows the province is taking a defensive position in response to the tariffs from the United States, which may not be enough to help the economy as a North American trade war looms.
Former provincial health minister Terry Lake, now the chief executive of the BC Care Providers Association, said Finance Minister Brenda Bailey’s budget had little new programming, and most of the capital projects in the document had already been announced.
“I think it's a budget that says we don't really know what the future holds, so we're just going to hunker down and support people, and put a bunch of money and contingency in case we need it,†said Lake after Bailey announced the budget in Victoria Tuesday.
“There are projects here that could be built with a lot less with a different procurement model … when you find yourself adding $30 billion to the budget over the next three years, some of that could have been avoided by looking at value-for-money for many of these projects. If you're a taxpayer, it's always been crucial, never more so than now.â€
Lake’s response comes after Finance Minister Brenda Bailey presented B.C.’s first $10-billion deficit on the same day as U.S. President Donald Trump’s new tariffs against Canadian goods began.
Bailey said when presenting the budget that the uncertainty created by the new tariffs made planning challenging, and she knows this isn’t a plan with “splashy new announcements.â€
“It’s not that,†she said. “This is about us really focusing our spending and protecting the core services for British Columbia, the things that people deeply rely on — health care, education, safety in our streets and social services.Â
“And that’s what you see reflected in this budget.â€
BC General Employees' Union President Paul Finch said he is happy to see the budget not cutting major services, but added that the province “needs an economic development plan†that’s “absolutely critical†for workers in the province.
"There are two separate things here, and I think we need to separate them," Finch said. "We're pleased with the budget holding the line on the provision and delivery of services. When we talk about economic development that is a separate question, and that means that the revenue that's available, the funds are available for government to build the economy.
"All of the subsidies, the royalty regimes, everything else that comprises that revenue structure for the province is dependent on a multilateral framework that needs to be re-evaluated. Really, we need to solve the revenue problem here."
Fiona Famulak, CEO of the B.C. Chamber of Commerce, said she is disappointed the budget contained little that would be “unlocking the potential of … natural resource sectors†or providing incentives for businesses to spur economic activity.
"The tariffs that landed today are very, very serious for businesses, for British Columbians, for Canadians, as well as everyone in the States," Famulak said. "We hoped to see more tax incentives, or other types of programming incentives that set up our businesses to succeed.Â
"If businesses succeed, our economy will succeed, and then we'll be able to generate revenue for government to pay for the essential services that we need. Today, we did not see that."
This report by °µÍø½ûÇø was first published March 4, 2025.
