B.C. Deficit Forecast Skyrockets to Record $13.8 Billion Amid Royalty Error

The British Columbia deficit forecast has increased by $450 million to a record-setting $13.8 billion due to a calculation error on natural gas royalties, according to Finance Minister Josie Osborne.

Osborne released the first quarterly report, which shows almost $800 million more in revenue, but spending is also up.

The added revenue comes from income and sales taxes, but wildfire fighting costs are projected to be $614 million more.

'If we backed out the 614 million extra dollars for wildfire recovery, (if) we had a different wildfire season, then we would have seen a different number for the final deficit,' she said.