Year-end results show commitment to reducing costs, says Province

As part of the Province’s efforts to reduce spending, government introduced expenditure-management targets in Budget 2025. ’s deficit was $7.7 billion, $3.2 billion lower than the forecast in Budget 2025. Revenues were higher than projected in Budget 2025 largely due to a $2.6-billion tobacco settlement and higher net income at ICBC. * Economic and fiscal highlights:Provincial real GDP grew by 2% in 2025, above the 1.8% forecast in Budget 2025. Employment grew by 1.1%, above the 0.8% forecast in Budget 2025.