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By the numbers as British Columbia releases its 2025 budget

VICTORIA — British Columbia’s Finance Minister Brenda Bailey has handed down a budget she says will defend the province against “unjustified” U.S. tariffs. Here’s a look at some of the budget’s key numbers and the tariffs’ projected impacts on B.C.
The Canadian Press
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Legislative Clerk Kate Ryan-Lloyd speaks to B.C. NDP government caucus MLAs as they take part in the legislative assembly for the oath ceremony at the legislature in Victoria, Wednesday, Nov. 13, 2024. THE CANADIAN PRESS/Chad Hipolito

VICTORIA — British Columbia’s Finance Minister Brenda Bailey has handed down a budget she says will defend the province against “unjustified” U.S. tariffs.

Here’s a look at some of the budget’s key numbers and the tariffs’ projected impacts on B.C.

$10.9 billion: Estimated 2025/26 deficit, up from $9.1 billion in 2024/25

$20.2 billion: Estimated 2025/26 capital spending, up from $16 billion in 2024/25

1.8 per cent: 2025 real GDP growth, up from 1.2 per cent last year.

$110: Rebate for ICBC customers

$43 billion: Projected cumulative GDP losses by 2029 due to U.S. tariffs

45,000: Jobs lost by 2029 under tariffs

6.7 per cent: Projected unemployment in 2026 under tariffs

$1.7 billion - $3.4 billion: Potential annual revenue losses under tariffs

This report by The Canadian Press was first published March 4, 2025.

The Canadian Press