ICBA C&C #16: Jock Finlayson on What Actually Went Wrong in B.C.

Not that long ago, British Columbia was an economic leader in Canada. No more. Too much debt and bloat, not enough investment and revenue. In less than a decade, B.C. has gone from leader to laggard.

Episode 16 of ICBA Coffee & Construction — the news that matters to the people who build British Columbia and Alberta, with ICBA's Jordan Bateman. A special edition: a full sit-down with ICBA Chief Economist Jock Finlayson on From Leader to Laggard, the report he co-authored with consulting economist Ken Peacock.

In this episode:

☕ "THIS IS NOT A CYCLICAL DOWNTURN." Jock's own line — the province is in the grip of a structural slowdown. What's the difference, and why is the second one so much harder to climb out of? From 2022 to 2024 the government side of B.C.'s economy grew 6.6% a year. The private sector grew 1%.

👷 THE 223,000 JOBS THAT DON'T EXIST. If B.C.'s private sector had kept growing the way it did before the pandemic, we'd have roughly 223,000 more private-sector jobs today. Since 2019, the province has added about 1.3 government jobs for every one private-sector job — more than double the national pace.

💸 SOMEBODY PAYS. The public-sector wage bill has gone from $26.7 billion to $53.2 billion in seven years. Taxpayer-supported debt is on track to TRIPLE in six. Jock and Ken went looking for another province that ran up debt like this — any province, any time — and couldn't find one in half a century.

🇺🇸 DON'T BLAME TRUMP. Everybody in Victoria wants this to be somebody else's fault. The report is blunt: blaming the tariffs is tempting, but B.C. was already on a weaker footing well before the trade fights started in 2025.

📊 Read From Leader to Laggard — free — and subscribe to the ICBA EconoBot briefing: https://icba.ca/economics

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#construction #bcpoli #BritishColumbia #economy #debt #deficit #jobs #economics #ICBA