Commodities
B.C. Deficit Forecast Soars Amid Gas Royalty Calculation Errors
The government of British Columbia has revised its deficit forecast upwards by $450 million to $13.8 billion due to errors in calculating gas royalties.
The Ministry of Finance acknowledged a $306 million error in the price forecast for natural gas in Budget 2026, which was previously described as a 'serious mistake'.
Finance Minister Josie Osborne stated that steps are being taken to prevent such mistakes from happening again and emphasized the importance of trust and confidence in government numbers.