582:: Per capita net debt is calculated using the population on July 1 in the fiscal year (e.g. for 2022–23 net debt is divided by population on 1 July 2022). The fiscal year ends 31 March. Population is from Statistics Canada. Net debt as a percentage of GDP is calculated using nominal GDP for the calendar year ending in the fiscal year (e.g. for 2022–23, net debt is divided by GDP for the 2022 calendar year.) GDP is from Statistics Canada. The net debt series begins in 1998–99 since earlier data is not directly comparable, due to a break in the data following the move to comply with generally accepted accounting principles.
41:(total liabilities) was $ 129.3 billion for the 2022-23 fiscal year (ending 31 March 2023). Total debt consists mainly of debt securities (e.g. government-issued bonds), but includes other financial liabilities such as accounts payable. The BC government had $ 85.2 billion in debt securities (e.g., government bonds) outstanding in 2022.
673:
The province of
British Columbia and its public-sector corporations and agencies have issued debt across the range of terms from one to 40 years. Of British Columbia's long-term debt issued from April to December 2023, 24 percent had a term to maturity of 4 to 7 years, 48 percent, had a term of 8 to
611:
in 2000, arguing "equity demands that future generations of
British Columbians not be burdened with an unsustainable level of debt", and that BC needed to maintain its position as a low-debt province so it would have the financial flexibility to make adequate investments in health, education, social
575:
For 1999–2000 to 2022–23: "Net debt" is from the
Department of Finance, Canada, Fiscal Reference Tables, October 2023, Table 27: British Columbia. For 2023–24 to 2026–2027: Net debt are estimates from Table A15, Budget 2024: Budget and Fiscal Plan 2024/25 – 2026/27, British Columbia Ministry of
652:
Most of the outstanding market debt issued by the
British Columbia government is issued in Canadian dollars. On 31 December 2023, 73.7 percent was issued in Canadian dollars, 20.9 percent in U.S. dollars, 4.3 percent in euros, 1.0 percent in Australian dollars, and 0.1 percent in Swiss francs.
619:. As with the previous law, cabinet ministers would lose up to 20 percent of their annual salaries if budget targets were not met. The act was amended in 2009 to allow for two years of deficit spending, due to the fall in provincial revenues following the worldwide 2007–2008 financial crisis.
51:
British
Columbia became the first province in Canada to pass legislation to limit the growth in government debt in 1991. Between 2000 and 2022, BC had legislation in place to limit the growth of government debt, with the measures having been introduced by both major parties (the
135:
before stabilizing again. Government spending accelerated after 2017, and net debt per capita started to rise in 2019. British
Columbia's 2024 budget projected an increase of net debt as a share of GDP from 15 percent in 2022 to 28 percent by 2026.
643:
British
Columbia's debt securities are held mainly by investors in Canada. Of the province's gross debt outstanding on 31 December 2023, 72 percent was held by lenders in Canada, 21 percent in the U.S., with the rest in Europe and elsewhere.
594:
As with over 100 countries around the world, and all but one U.S. state, British
Columbia has used legislation to limit the growth of government debt. BC was the first province in Canada to limit the growth of government debt with its
599:
in 1991. The act required a balanced budget on a cumulative basis over the succeeding five-year period, and spending growth was limited to the rate of average GDP growth over the previous five years. The law was repealed in 1992.
1128:
1094:
839:
875:"Canada's two richest provinces are playing with fiscal fire: B.C. is financing spending with borrowing, while Alberta is riding the resource rollercoaster harder than ever"
48:(i.e., total debt minus financial assets) was $ 60.7 billion in 2022–23. Net debt per person was $ 11,329, and net debt as a percentage of provincial GDP was 15.4 percent.
840:"Red-ink penalties scaled back for B.C. cabinet ministers, boosting their salaries: B.C. cabinet ministers were losing part of their salaries if the budget wasn't balanced"
1066:
1164:
817:
630:
which suspended for three years the law that prohibited deficit budgets. In 2022, the balanced-budget component of the law was abolished permanently.
1189:
933:
735:
53:
1194:
874:
891:
974:
793:"Table 10-10-0147-01 Canadian government finance statistics, statement of operations and balance sheet for consolidated government"
665:
carries U.S. dollar debt exposure, and this exposure is hedged through U.S. dollar revenue inflows and other financial hedges.
132:
31:
1184:
607:, and two successor plans, were introduced to balance the budget and limit the growth of debt. The government passed the
683:
654:
77:
653:
Provincial government debt includes securities issued by the province directly, and by the province's public-sector (
1150:
856:
704:
1080:
1025:
1011:
770:
948:
963:
688:
76:
minus its total financial assets, which consist chiefly of investments in commercial publicly-owned (
724:
920:"Table 36-10-0222-01 Gross domestic product, expenditure-based, provincial and territorial, annual"
17:
1111:
140:
British
Columbia government net debt, net debt per capita, and net debt as a percentage of GDP
970:
731:
623:
693:
699:
658:
38:
131:
British
Columbia government net debt was fairly stable from 1998 but rose following the
661:
using financial instruments. Among British Columbia's public-sector corporations, only
1178:
1044:"Effective Tool or Effectively Hollow: Balanced Budget Legislation in Western Canada"
995:
Protecting Taxpayers: Balanced Budget Legislation in Canada and in British Columbia
1081:"Balanced Budget and Ministerial Accountability Act [SBC 2001] Chapter 28"
964:
The Effects of Budget Rules on Fiscal Performance and Macroeconomic Stabilization
857:"Balanced Budget and Ministerial Accountability Act [SBC2001] Chapter 28"
936:. Tax Policy Center: Urban Institute & Brookings Institution. January 2024.
57:
1026:"Budget Transparency and Accountability Act [SBC 2000] Chapter 23"
919:
905:
792:
662:
81:
1043:
994:
1067:"B.C. abandons balanced budget law for three years in wake of pandemic"
906:"Table 17-10-0005-01 Population estimates on July 1, by age and gender"
859:. Queen's Printer: Victoria, British Columbia, Canada. 16 August 2001.
88:
issued in the market (e.g. government bonds, bills, and debentures).
68:
The British Columbia (BC) government focuses on its debt measured as
30:
is composed of the financial liabilities of the Canadian provincial
1129:"Gross Market Debt Outstanding by Currency as at December 31, 2023"
934:"What are state balanced budget requirements and how do they work?"
771:"Table A15, Budget 2024: Budget and Fiscal Plan 2024/25 – 2026/27"
818:"B.C.'s amended balanced budget law to allow 2 years of deficits"
657:) corporations and agencies. Exchange rate risk is restricted by
72:(also called net liabilities). Its net debt is defined as its
1095:"Total Market Debt Outstanding by Source: December 31, 2023"
569:
Data for 2023–24 to 2026–27 are B.C. 2024 budget estimates.
969:(Report). Financial Markets Department, Bank of Canada.
674:
12 years, and 28 percent had a term of 13 to 40+ years.
892:"Table 27: British Columbia, Fiscal Reference Tables"
138:
1012:"Balanced Budget Act [SBC 2000] Chapter 21"
615:In 2001, a newly elected government introduced the
617:Balanced Budget and Ministerial Accountability Act
84:. Another measure of BC government debt is its
894:. Department of Finance, Canada. October 2023.
1153:. Province of British Columbia. 3 April 2024.
8:
1165:"Borrowing Activity as of December 31, 2023"
765:
763:
761:
759:
757:
755:
753:
751:
749:
747:
37:As of 2023, the British Columbia (BC) total
1123:
1121:
1037:
1035:
787:
785:
783:
590:Legislation to limit government debt in BC
64:Alternative measures of BC government debt
886:
884:
812:
810:
808:
806:
804:
802:
725:Government finance statistics manual 2014
1145:
1143:
1141:
1000:(Report). Canadian Taxpayers Federation.
988:
986:
90:
947:Davoodi, Hamid; et, al (January 2022).
868:
866:
851:
849:
833:
831:
776:. British Columbia Ministry of Finance.
730:(Report). International Monetary Fund.
716:
626:in 2020, the government introduced the
1042:Simpson, Wayne; Wesley, Jared (2012).
795:. Statistics Canada. 22 November 2023.
7:
25:
1167:. Government of British Columbia.
1134:. Government of British Columbia.
1114:. Government of British Columbia.
1100:. Government of British Columbia.
1083:. Queen's Printer. 16 April 2024.
949:"Fiscal Rules Dataset: 1985-2021"
1065:Hunter, Justine (24 June 2020).
154:Net debt as a percentage of GDP
28:British Columbia government debt
18:British Columbia Government Debt
1190:Government of British Columbia
962:Millar, Jonathan (June 1997).
951:. International Monetary Fund.
873:Tombe, Trevor (7 March 2024).
612:justice, and the environment.
32:government of British Columbia
1:
684:Balanced Budget Act (Quebec)
44:British Columbia government
1195:Economy of British Columbia
838:Leyne, Les (7 April 2022).
1211:
1151:"How B.C. debt is managed"
1112:"Provincial debt overview"
842:. Victoria Times Colonist.
628:Economic Stabilization Act
133:2007–2008 financial crisis
993:Milke, Mark (June 2020).
564:
648:Currency of denomination
80:) corporations, such as
705:Ontario government debt
597:Taxpayer Protection Act
117:Debt securities (2022)
1048:Canadian Public Policy
1069:. The Globe and Mail.
109:Total debt (2022–23)
1185:Canadian public debt
922:. Statistics Canada.
908:. Statistics Canada.
689:Canadian public debt
605:Debt Management Plan
151:Net debt per capita
148:Net debt (billions)
54:New Democratic Party
1014:. 6 September 2000.
609:Balanced Budget Act
141:
101:Net debt (2022–23)
824:. 9 February 2009.
139:
96:Amount (billions)
737:978-1-49837-916-8
624:COVID-19 pandemic
587:
586:
580:Table definitions
124:
123:
16:(Redirected from
1202:
1169:
1168:
1161:
1155:
1154:
1147:
1136:
1135:
1133:
1125:
1116:
1115:
1108:
1102:
1101:
1099:
1091:
1085:
1084:
1077:
1071:
1070:
1062:
1056:
1055:
1039:
1030:
1029:
1022:
1016:
1015:
1008:
1002:
1001:
999:
990:
981:
980:
968:
959:
953:
952:
944:
938:
937:
930:
924:
923:
916:
910:
909:
902:
896:
895:
888:
879:
878:
870:
861:
860:
853:
844:
843:
835:
826:
825:
814:
797:
796:
789:
778:
777:
775:
767:
742:
741:
729:
721:
694:Generations Fund
142:
91:
58:BC Liberal Party
21:
1210:
1209:
1205:
1204:
1203:
1201:
1200:
1199:
1175:
1174:
1173:
1172:
1163:
1162:
1158:
1149:
1148:
1139:
1131:
1127:
1126:
1119:
1110:
1109:
1105:
1097:
1093:
1092:
1088:
1079:
1078:
1074:
1064:
1063:
1059:
1041:
1040:
1033:
1024:
1023:
1019:
1010:
1009:
1005:
997:
992:
991:
984:
977:
966:
961:
960:
956:
946:
945:
941:
932:
931:
927:
918:
917:
913:
904:
903:
899:
890:
889:
882:
872:
871:
864:
855:
854:
847:
837:
836:
829:
816:
815:
800:
791:
790:
781:
773:
769:
768:
745:
738:
727:
723:
722:
718:
713:
700:Government debt
680:
671:
650:
641:
639:Funding sources
636:
634:Characteristics
592:
583:
577:
570:
129:
86:debt securities
66:
39:government debt
23:
22:
15:
12:
11:
5:
1208:
1206:
1198:
1197:
1192:
1187:
1177:
1176:
1171:
1170:
1156:
1137:
1117:
1103:
1086:
1072:
1057:
1031:
1028:. 6 July 2000.
1017:
1003:
982:
975:
954:
939:
925:
911:
897:
880:
862:
845:
827:
798:
779:
743:
736:
715:
714:
712:
709:
708:
707:
702:
697:
691:
686:
679:
676:
670:
667:
649:
646:
640:
637:
635:
632:
591:
588:
585:
584:
565:
562:
561:
558:
555:
552:
548:
547:
544:
541:
538:
534:
533:
530:
527:
524:
520:
519:
516:
513:
510:
506:
505:
502:
499:
496:
492:
491:
488:
485:
482:
478:
477:
474:
471:
468:
464:
463:
460:
457:
454:
450:
449:
446:
443:
440:
436:
435:
432:
429:
426:
422:
421:
418:
415:
412:
408:
407:
404:
401:
398:
394:
393:
390:
387:
384:
380:
379:
376:
373:
370:
366:
365:
362:
359:
356:
352:
351:
348:
345:
342:
338:
337:
334:
331:
328:
324:
323:
320:
317:
314:
310:
309:
306:
303:
300:
296:
295:
292:
289:
286:
282:
281:
278:
275:
272:
268:
267:
264:
261:
258:
254:
253:
250:
247:
244:
240:
239:
236:
233:
230:
226:
225:
222:
219:
216:
212:
211:
208:
205:
202:
198:
197:
194:
191:
188:
184:
183:
180:
177:
174:
170:
169:
166:
163:
160:
156:
155:
152:
149:
146:
128:
125:
122:
121:
118:
114:
113:
110:
106:
105:
102:
98:
97:
94:
65:
62:
24:
14:
13:
10:
9:
6:
4:
3:
2:
1207:
1196:
1193:
1191:
1188:
1186:
1183:
1182:
1180:
1166:
1160:
1157:
1152:
1146:
1144:
1142:
1138:
1130:
1124:
1122:
1118:
1113:
1107:
1104:
1096:
1090:
1087:
1082:
1076:
1073:
1068:
1061:
1058:
1054:(3): 291–313.
1053:
1049:
1045:
1038:
1036:
1032:
1027:
1021:
1018:
1013:
1007:
1004:
996:
989:
987:
983:
978:
976:0-662-25942-4
972:
965:
958:
955:
950:
943:
940:
935:
929:
926:
921:
915:
912:
907:
901:
898:
893:
887:
885:
881:
876:
869:
867:
863:
858:
852:
850:
846:
841:
834:
832:
828:
823:
819:
813:
811:
809:
807:
805:
803:
799:
794:
788:
786:
784:
780:
772:
766:
764:
762:
760:
758:
756:
754:
752:
750:
748:
744:
739:
733:
726:
720:
717:
710:
706:
703:
701:
698:
695:
692:
690:
687:
685:
682:
681:
677:
675:
669:Debt maturity
668:
666:
664:
660:
656:
647:
645:
638:
633:
631:
629:
625:
620:
618:
613:
610:
606:
601:
598:
589:
581:
578:
574:
568:
563:
559:
556:
553:
550:
549:
545:
542:
539:
536:
535:
531:
528:
525:
522:
521:
517:
514:
511:
508:
507:
503:
500:
497:
494:
493:
489:
486:
483:
480:
479:
475:
472:
469:
466:
465:
461:
458:
455:
452:
451:
447:
444:
441:
438:
437:
433:
430:
427:
424:
423:
419:
416:
413:
410:
409:
405:
402:
399:
396:
395:
391:
388:
385:
382:
381:
377:
374:
371:
368:
367:
363:
360:
357:
354:
353:
349:
346:
343:
340:
339:
335:
332:
329:
326:
325:
321:
318:
315:
312:
311:
307:
304:
301:
298:
297:
293:
290:
287:
284:
283:
279:
276:
273:
270:
269:
265:
262:
259:
256:
255:
251:
248:
245:
242:
241:
237:
234:
231:
228:
227:
223:
220:
217:
214:
213:
209:
206:
203:
200:
199:
195:
192:
189:
186:
185:
181:
178:
175:
172:
171:
167:
164:
161:
158:
157:
153:
150:
147:
144:
143:
137:
134:
126:
119:
116:
115:
111:
108:
107:
103:
100:
99:
95:
93:
92:
89:
87:
83:
79:
75:
71:
63:
61:
59:
55:
49:
47:
42:
40:
35:
33:
29:
19:
1159:
1106:
1089:
1075:
1060:
1051:
1047:
1020:
1006:
957:
942:
928:
914:
900:
821:
719:
672:
651:
642:
627:
621:
616:
614:
608:
604:
602:
596:
593:
579:
572:
571:
566:
145:Fiscal year
130:
85:
73:
69:
67:
50:
45:
43:
36:
27:
26:
603:In 1994, a
1179:Categories
877:. The Hub.
711:References
74:total debt
622:Amid the
557:$ 21,932
551:2026–27*
543:$ 19,390
537:2025–26*
529:$ 16,322
523:2024–25*
515:$ 13,359
509:2023–24*
501:$ 11,329
487:$ 10,994
473:$ 10,588
822:CBC News
696:, Quebec
678:See also
663:BC Hydro
576:Finance.
573:Sources:
554:$ 128.8
540:$ 112.1
495:2022–23
481:2021–22
467:2020–21
459:$ 9,175
453:2019–20
445:$ 8,732
439:2018–19
431:$ 8,820
425:2017–18
417:$ 8,109
411:2016–17
403:$ 8,648
397:2015–16
389:$ 8,529
383:2014–15
375:$ 8,686
369:2013–14
361:$ 8,631
355:2012–13
347:$ 8,247
341:2011–12
333:$ 7,216
327:2010–11
319:$ 6,718
313:2009–10
305:$ 6,072
299:2008–09
291:$ 5,565
285:2007–08
277:$ 5,771
271:2006–07
263:$ 6,458
257:2005–06
249:$ 6,826
243:2004–05
235:$ 7,222
229:2003–04
221:$ 6,965
215:2002–03
207:$ 6,286
201:2001–02
193:$ 5,928
187:2000–01
179:$ 5,777
173:1999–00
165:$ 5,502
159:1998–99
112:$ 129.3
82:BC Hydro
70:net debt
56:and the
46:net debt
659:hedging
526:$ 92.6
512:$ 73.7
498:$ 60.7
484:$ 57.5
470:$ 54.8
456:$ 46.9
442:$ 43.8
428:$ 43.5
414:$ 39.4
400:$ 41.2
386:$ 40.2
372:$ 40.3
358:$ 39.5
344:$ 37.1
330:$ 32.2
316:$ 29.6
302:$ 26.4
288:$ 23.9
274:$ 24.5
260:$ 27.1
246:$ 28.4
232:$ 29.8
218:$ 28.6
204:$ 25.6
190:$ 23.9
176:$ 23.2
162:$ 21.9
127:History
120:$ 85.2
104:$ 60.7
973:
734:
1132:(PDF)
1098:(PDF)
998:(PDF)
967:(PDF)
774:(PDF)
728:(PDF)
655:Crown
567:Note:
560:28.0
546:25.5
532:22.0
518:18.1
504:15.4
490:16.1
476:17.8
462:15.2
448:14.7
434:15.4
420:14.9
406:16.4
392:16.5
378:17.4
364:17.7
350:17.0
336:15.6
322:15.0
308:12.8
294:11.9
280:12.9
266:15.3
252:17.2
238:19.6
224:19.8
210:18.5
196:17.6
182:18.4
168:18.3
78:Crown
971:ISBN
732:ISBN
60:).
1181::
1140:^
1120:^
1052:38
1050:.
1046:.
1034:^
985:^
883:^
865:^
848:^
830:^
820:.
801:^
782:^
746:^
34:.
979:.
740:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.