B.C.’s provincial deficit for the current fiscal year keeps shrinking because of higher than expected revenue.
Finance Miinister Colin Hansen said the deficit will be lower than the $1.6 billion that it forecast in November and the $1.7 billion that it originally forecast.
“It really comes down to the revenue numbers,” Hansen told reporters February 9.
Hansen would not reveal the exact estimate for how low the deficit will be in the fiscal year that ends March 31. He is saving that for February 15, when he tables a new budget.
That budget, however, is being introduced only because provincial law requires it.
The BC Liberal Party chooses a leader February 26, and that new premier will likely want to adjust financial plans for 2011.