Province Projects $9.4B Deficit In Fiscal Update

B.C.'s Finance Minister Brenda Bailey says weakening exports abroad and rising expenses at home have increased the size of the projected provincial deficit by $429 million to a record high of $9.4 billion.

But Bailey also says that it will not derail her government's plans to give a "grocery rebate" of $1,000 next year to 90 per cent of provincial households.

Bailey's appearance comes after her federal counterpart Chyrstia Freeland tendered her resignation following a dispute with Prime Minister Justin Trudeau over the size of Canada's budget deficit, with Freeland favouring less spending.

Freeland's resignation letter urges officials to prepare for the threatened tariffs by building up reserves.

Bailey says her ministry is currently modelling different scenarios "should these tariffs, in fact, come to fruition.

"She adds she also plans to meet with government's economic forecast council next month to discuss the issue.