FIRST READING: B.C. stacking up sub-national debt faster than anywhere else in North America

Advertisement 1 This advertisement has not loaded yet, but your article continues below. Breadcrumb Trail Links HomeNP Comment FIRST READING: B.C. stacking up sub-national debt faster than anywhere else in North America In just four years, Premier David Eby has doubled the province's net debt Author of the article: By Tristin Hopper Published Sep 18, 2026 5 minute read Join the conversation When Eby took office, B.C. paid about $2 billion per year in interest charges. It’s now triple that, with this year’s debt servicing costs expected to top $6.3 billion. PHOTO BY GOVERMENT OF BRITISH COLUMBIA Article content First Reading is a Canadian politics newsletter curated by the National Post’s own Tristin Hopper. To get an early version sent directly to your inbox, sign up here. Article content TOP STORY Article content RECOMMENDED VIDEOS Article content New figures show that B.C. is running up debt faster than any other subnational jurisdiction in North America, including famously indebted U.S. states such as California and New York. Article content Article content The province’s deficit forecast now stands at $13.8 billion for the year, according to an update released this week by the B.C. Ministry of Finance. Article content Channel Israel Columnist Jesse Kline keeps you up to date with what’s happening in Israel and the effects of antisemitism on life here in Canada. Friday mornings. Sign Up By signing up you consent to receive the above newsletter from Postmedia Network Inc. Interested in more newsletters? Browse here. Article content That’s equivalent to $2,400 in new debt for every single resident of the province. Or, about $46 in new debt per resident, per week. Article content The figure not only dwarfs the relative debt accumulation of any other Canadian province, but of all 50 U.S. states. Article content The B.C. deficit is so high, in fact, that it will almost exactly match this year’s deficit in Ontario, a province with more than three times the population. Article content The latest estimates from the government of Ontario Premier Doug Ford also put their deficit at $13.8 billion. Article content But with more than 16 million Ontarians (as opposed to 5.7 million British Columbians), Ontario’s deficit will work out to a per-capita rate of about $850. Article content The Quebec government of Christine Fréchette has come in for criticism for its fiscal imprudence. One issue that emerged in the province’s ongoing provincial…