2017 B.C. Budget: Infrastructure Spending To Get 19 Per Cent Boost Year-Over-Year

The Province of British Columbia released its 2017 budget (Budget) on February 21, 2017. Although the Budget mainly focuses on the reduction of Medical Services Plan premiums and increased investment in education and social supports, it also projects steady growth for B.C.'s economy as a whole and contains significant implications for the infrastructure industry in the province over the coming years.

RECORD LEVELS OF INFRASTRUCTURE SPENDING

The Budget forecasts that capital spending on schools, hospitals, roads, bridges, hydro-electric projects and other infrastructure across the province will total C$24.5-billion over the three-year fiscal plan period. Taxpayer-supported infrastructure spending on hospitals, schools, post-secondary facilities, transit and roads is forecasted to be C$13.7-billion over the fiscal plan period, a record level of taxpayer-supported capital spending. These investments will be financed by C$9.5-billion in borrowing with the remainder