VANCOUVER, B.C.: The Canadian Taxpayers Federation is sounding the alarm after B.C.’s public accounts show Premier David Eby recklessly ran up the debt by $10.6  billion more than budgeted in 2024-25. 

“Eby keeps adding more debt charges to the taxpayer credit card,” said Carson Binda, B.C. Director for the Canadian Taxpayers Federation. “Every dollar of debt that the province wracks up today is a dollar plus interest that taxpayers are on the hook for in the future.” 

The province had initially planned to add $15.8 billion to the provincial debt in 2024-25. Eby blew past those estimates and added $26.4 billion to the debt. That means the province borrowed $10.6 billion more than was budgeted. 

“It’s hard to imagine how you accidentally borrow an extra $10.6 billion,” Binda said. “That’s not pocket change, that’s as much money as the province takes from taxpayers in the PST every year."    

Total provincial debt hit $133.9 billion last year, which is about $23,500 per British Columbian. 

Interest on the provincial debt also cost taxpayers more than government budgeted. Debt interest charges cost taxpayers $4.6 billion in 2024-25, $336 million more than budgeted. 

Interest on the provincial debt cost every British Columbian $807 in 2024-25. Provincial debt interest cost $3,230 for a family of four. 

“If debt interest were a ministry, it would have the fourth biggest budget in the province,” Binda said. “Eby needs to put down the taxpayer credit card and stop blowing his own budgets.”