BC Budget Ignores Post-Secondary Crisis in Austere Budget.

BC Budget reflects a record-breaking budget deficit of $13B which is more than the record-breaking deficit of the last budget cycle of $9.6B projected.

No wonder Finance Minister Brenda Bailey said she was going to be “the least popular person in the province” after the budget was read last Tuesday. As she revealed budget, 2026, she noted that the budget focuses on “serious work for serious times” recognizing this budget will reflect priorities the province has to do rather than what the province wants to do. Within the budget, there are a few things that stand out. Personal taxes will get a boost for the first time in a generation. There will be delays in projects that support our aging population, as well as student housing delays at the University of Victoria. Lastly, 15,000 public sector jobs will be cut over the next few years.  BC is in a dire economic situation. The budget reflects a record-breaking budget deficit of $13B which is more than the record-breaking deficit of the last budget cycle of $9.6B projected. This budget fails to rein in the deficit as previously pledged, projecting an even greater deficit in the years to come. With a new record, the NDP budget is sparse and doesn’t outline future plans of relief.

The Minister of Finance, Brenda Bailey blamed the dire economic condition on difficulties such as U.S tariffs and the housing market. However, much of the deficit is due to deliberate policy choices that eroded BC’s financial capacity even as the economy grew.  In tough times budgets are sparse to forecast for savings, cutting spending when revenue streams decline. But spending cuts is not the answer. There are a lot of sectors that need growth, funding, and resources, but the post-secondary sector is in a state of emergency. Funding is needed now before it's too late and the value of education as it stands, is lost forever. Student Unions have been advocating to past and current governments that public funding has dropped below sustainable levels, and a reinvestment into the sector is needed in order to continue producing graduates ready for the workforce.

Public funding levels for PSI’s have dropped to 40%, and the government fails to see the benefit of reinvesting in public post-secondary education.  By re-investing now, it will boost the workforce and economy which will help alleviate some financial strain in the province.

This budget continues to withhold urgently needed investment into post-secondary education. There was a modest increase to the sector to cover the cost of wage increases, and current infrastructure projects. But this doesn’t address the 19 out of 25 post-secondary institutions that are projecting to be in a deficit of millions of dollars within the next few years; some already are.

Advocates have warned the government that encouraging institutions to compete for international students and raise international tuition fees to cover the discrepancies in their budget was not a sustainable plan. This current crisis the sector is in, kickstarted in January 2024 when the federal government decided to dramatically cut the number of international student visas. By slashing the number of permits allowed to be accepted at a Canadian institution, institutions can no longer rely on international student tuition to keep the lights on. While this has caused chaos for the sector, this financial crisis was caused by decades of underfunding and bad advice from current and past provincial governments. This budget does not inspire good news for students.

Student Unions across BC are organizing through our Cuts Suck Fix Education Campaign. The message is simple: cuts don’t solve underfunding; public re-investment does.  

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