BC Budget to be released today

All eyes will be on Victoria today as the provincial government tables its updated budget.

When the Liberals submitted their original budget in February, it predicted a deficit of 495 million dollars, but that figure could soar to between 2 and 4 billion in the new budget.

Premier Gordon Campbell says the government has seen its revenues drop by billions of dollars in recent months, something he says top economists didn’t even predict, and the province has no choice but to cut spending, though finance Minister Colin Hansen insists it won’t be all bad. [asset|aid=1811|format=mp3player|formatter=asset_bonus|title=7ca91dfa6bc970b45221e1ee566a2bfa-Hansen-notallbad_1_Pub.mp3]

Hansen says much of the bad news around cuts to discretionary spending has already been released. He also insists health and education will be protected, but the NDP says hospitals and schools are already facing cuts.

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