Scoring a hat-trick of its own, the province of B.C. has managed to balance the books for the third year in a row. Finance Minister Michael de Jong announced on Tuesday that the third consecutive balanced budget will build toward a stronger and more diversified economy and delivers additional support to British Columbians who are most in need of support.
The balanced budget for 2015 forecasts a surplus of $879 million in 2014-15, and the government expects total revenue to hit $46.4 billion for 2015. Total expenses over the three-year plan is forecast at $45.8 billion.
Photo credit: screen grab from Minister’s announcement in Victoria.
As outlined by Minister de Jong, the budget provides room for modest investments that will strengthen and encourage growth in several key factions including economics, public services, and support networks for families in need.
In terms of strengthening economic growth across the province, key measures of the budget include continued tax credits, along with a $6.3 million in new base-budget funding to support B.C.’s mining industry, the implementation of the Water Sustainability Act, and the extension of the Digital Media Tax credit to 2018.