Premier Christy Clark says B.C. will balance its budget despite big drops in oil prices.
Premier Clark believes that B.C. will “weather the stormy period” and be one of only two provinces that will table a balanced budget for the coming year (along with Saskatchewan). Declines in world oil prices over the recent months have contributed to changes to government economic forecasts – especially in Alberta and Ottawa.
The 2015 B.C. Budget will be unveiled on February 17. Last November, Minister of Finance Hon. Mike de Jong put B.C.’s budget surplus at an estimated $444 million, up from an estimated $184 million announced last February.
Premier Clark said that the B.C.’s economic diversity will be the focus of the upcoming legislative session. Although B.C.’s LNG plans will remain in place and Premier Clark maintains that three plants will be in operation by 2020, the Government of B.C. is expected to renew its focus on other economic sectors like film, technology, and mining.