BC: Debt Continues to Grow

Author: Jordan Bateman 2014/02/20

Over the next few days, I’ll post some interesting tidbits on the 2014-15 B.C. Budget, but let’s start with the debt numbers. Concerned? Sign our petition here.

The debt on March 31, 2013 was $55.816 billion.
The debt on March 31, 2014 will be $61.743 billion.
That’s a 10.6% growth rate in one year ($5.927 billion)
The debt on March 31, 2015 will be $64.738 billion.
For 2014-15, the B.C. debt will grow by:

$748.75 million per quarter
$249.6 million per month
$57.6 million per week
$8.2 million per day
$341,895 per hour
$5,698 per minute
$94.97 per second

By March 31, 2017, the B.C. debt will be $68.867 billion.
Debt servicing this year will cost taxpayers $2.5 billion, or roughly the same as the Ministry of Social Development budget, or half the Ministry of Education budget.

And for a 30-year view of premiers and their debt levels, check out this graphic:

A Note for our Readers:

Is Canada Off Track?

Canada has problems. You see them at gas station. You see them at the grocery store. You see them on your taxes.

Is anyone listening to you to find out where you think Canada’s off track and what you think we could do to make things better?

You can tell us what you think by filling out the survey

Franco Terrazzano
Federal Director

Hey, it’s Franco.

Did you know that you can get the inside scoop right from my notebook each week? I’ll share hilarious and infuriating stories the media usually misses with you every week so you can hold politicians accountable.

You can sign up for our Action Update emails

Join and be the first to take action on important issues

We take data security and privacy seriously. Your information will be kept safe.