Milobar expects U.S. tariffs to receive plenty of attention in Tuesday’s provincial budget

Mar 3, 2025 | 4:28 PM

VICTORIA — Tuesday (March 4) is budget day in British Columbia, as Finance Minister Brenda Bailey will introduce the province’s financial plans and current deficit in the legislature. The first look inside the province’s books since last year’s election is expected to showcase how the NDP’s election promises will impact the bottom line.

Some of the province’s election promises, such as the grocery rebate, have already been axed from the budget, with possible U.S. tariffs given as the reason for change of course. Finance Critic and Kamloops Centre MLA Peter Milobar expects the NDP to use the tariff threat often in their budget.

“We have to be very realistic about what the starting point is here — a record $9.5 billion deficit and counting. A government that, up until tariffs were announced, had no intention whatsoever is getting to a balanced budget anytime anywhere in the near future,” Milobar told CFJC News.

Addressing the media on Monday (March 3) morning, Finance Minister Bailey spoke directly to that uncertainty.

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“We know that this uncertainty is already playing in the economy. We see that. We’ve seen that in regards to a reduction of projections of GDP growth from the Economic Forecast Council, for example. This budget is designed to provide us initial steps that we can take and flexibility for us to move forward,” said Bailey.

While the tariff threat is real, Milobar feels the government needs to be realistic about the starting point for the province’s finances.

“Now, with tariffs being announced, the premier is now worried about deficits, worried about getting to balance and he is trying to blame everything on tariffs. They will absolutely have a massive impact on British Columbia but that does not absolve the government for the financial mess we are in,” stated Milobar.

Closer to home, the Kamloops MLA is looking towards the Ministries of Health and Education budgets for confirmation on key projects for the Tournament Capital.

“We certainly have a couple of school projects. I think the school board would be interested in hearing if there is funding in this budget to move forward at the speed that these projects get announced and the money is actually in the budget and the project can get started. We don’t have a minute to lose in terms of losing budget cycle after budget cycle for that,” said Milobar. “Certainly the Kamloops cancer centre.”

by Michael Reeve

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Milobar expects U.S. tariffs to receive plenty of attention in Tuesday’s provincial budget

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