Moody’s downgrades B.C.’s debt rating due to shoddy fiscal management
The credit and debt rating agency said the downgrade was due to “a deterioration in long-term fiscal management relative to our previous assessment.”
British Columbia has taken another financial hit in the eyes of global credit rating agencies, now that Moody’s Ratings has officially downgraded the province. The reason? “Sizable and entrenched deficits” and a lack of preparedness to handle economic trouble.
B.C. Premier David Eby’s Budget 2026 played a major role in the province’s new rating as it brought the province “from having one of the lowest debt burdens to having one of the highest among regional peers.”
BC NDP releases high tax budget with record-breaking $13.3B deficit
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British Columbia’s NDP government released its Budget 2026, which projects a $13.3 billion deficit for the 2026-27 fiscal year, includes over $4 billion in new spending this year, and hikes taxes for the lowest bracket of income earners.
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