B.C. government takes heat as credit ratings downgraded again over deficit and debt

The British Columbia government faces criticism after S&P Global Ratings downgraded its credit rating to A-plus and Moody’s lowered its baseline assessment to AA2, citing rising debt and significant annual deficits. Premier David Eby acknowledged the deficit and emphasized the need for a balanced budget, while the Canadian Taxpayers’ Federation criticized the government for blaming external factors. The province's projected deficit for 2025 is $10.9 billion, potentially rising to $14.3 billion, with total debt expected to exceed $209 billion by 2026-27.