{
  "id": 7406234,
  "title": "B.C.’s deficit forecast up $450M to $13.8B after calculation errors on gas royalties",
  "url": "https://urgent.news/2026/09/14/b-c-s-deficit-forecast-up-450m-to-13-8b-after-calculation-errors-on",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-14T21:37:33.000Z",
  "source": {
    "name": "Global News",
    "slug": "global-news",
    "url": "https://globalnews.ca/news/12058919/bc-deficit-forecast-up-after-calculation-errors-gas-royalties/"
  },
  "original_language": "en",
  "account": "The British Columbia deficit forecast has increased by approximately $450 million, reaching $13.8 billion, primarily due to an error in the calculation of natural gas royalties. Finance Minister Josie Osborne released the first quarterly report, which revealed $800 million more in revenue but also higher spending. The additional revenue stems from income and sales taxes, with wildfire fighting costs expected to rise by $614 million. Refundable tax credits for businesses and renters saw an increase of $458 million. The Finance Ministry noted that businesses are adjusting to changes in global trade, with exports to countries like China, South Korea, and India growing by 16%. Overall, B.C. exports increased by 4.2% up to July 2026, largely driven by high demand for copper. However, natural gas royalties are $531 million lower than initially forecast, largely due to an error in the price prediction from Budget 2026, which the government admitted was a \"serious mistake\" in calculating the natural gas price.",
  "summary": "The British Columbia deficit forecast has grown by about $450 million to $13.8 billion, largely because of a \"calculation error\" on natural gas royalties.",
  "key_points": [
    "B.C.'s deficit forecast increased by $450 million to $13.8 billion",
    "Natural gas royalties were $531 million lower than forecast",
    "Wildfire fighting costs expected to rise by $614 million"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}