Liberals’ financial legacy is a myth
The claim that the Liberals have left B.C. in a strong fiscal position is a false one. While the province’s operating budget may show a surplus this year, this is a relatively small part of the province’s overall financial picture.
The province’s total debt has ballooned from $45.2 million in 2011 to $66.7 billion last year, an increase of $21 billion in only five years. If interest rates continue to rise, as predicted by the Bank of Canada, this debt load will become even more critical.
Total debt is what matters in the long run. The rapid increase in B.C.’s total debt shows that the Liberals’ much ballyhooed financial legacy is a myth.