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Canada’s third-largest province will run a deficit this fiscal year that’s “significantly larger” than expected when the pandemic began, which will likely lengthen the time to return to fiscal balance, S&P said in a statement Wednesday explaining the one-notch downgrade to AA+. The move comes less than two weeks after Fitch Ratings took a parallel rating action.
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Finance Minister Selina Robinson presented a budget in April that projected a budget deficit of $9.7 billion (US$7.8 billion) in the current fiscal year, which ends March 31, 2022, and smaller deficits for the two years after that.
B C s AAA rating stripped by S&P on rising debt vancouversun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vancouversun.com Daily Mail and Mail on Sunday newspapers.
As lumber prices remain at record high, New Brunswick still hasn't raised royalty rates on Crown timber, even as other provinces, including Ontario, Alberta and British Columbia, raise rates to shore up extra income.
by The Canadian Press
Last Updated May 18, 2021 at 5:09 am ADT
British Columbia Premier John Horgan arrives before the budget speech from the legislative assembly at Legislature in Victoria, Tuesday, April 20, 2021. THE CANADIAN PRESS/Chad Hipolito
VICTORIA Further help is on the way for British Columbia’s struggling tourism sector.
B.C. Premier John Horgan and Tourism Minister Melanie Mark are set to announce more support today for the sector that’s lobbied the province for greater aid as it grapples with the impacts of the COVID-19 pandemic.
A group of four tourism and hospitality industry associations reacted to B.C.’s budget announced last month, saying in a news release at the time that tourism-related spending was welcome, but it may not be enough to save some businesses before ongoing travel restrictions are lifted.
B.C. landmark tourism attractions eligible for up to $1 million in pandemic grants
British Columbia Premier John Horgan arrives before the budget speech from the legislative assembly at Legislature in Victoria, Tuesday, April 20, 2021. The British Columbia government is set to announce more support today for the sector that s lobbied the province for greater aid as it grapples with the impacts of the COVID-19 pandemic. THE CANADIAN PRESS/Chad Hipolito May 18, 2021 - 4:36 PM
VICTORIA - The B.C. government is offering up to $1-million grants to help anchor attractions and tour bus operators survive the pandemic and ramp up operations when it s safe to do so.