Per-person (inflation-adjusted) provincial government debt increased faster under Premier David Eby than any other B.C. premier over the last 50 plus years

VANCOUVER, BC, July 3, 2025 /CNW/ - Premier David Eby has overseen by far the fastest growth of per-person inflation-adjusted provincial government debt (annual average) since 1969, finds a new study published today by the Fraser Institute, an independent non-partisan Canadian think-tank.

"The numbers tell an extraordinary story—no premier over more than the last half century has racked up debt at anything approaching the rate that is occurring under David Eby," said Ben Eisen, senior fellow at the Fraser Institute and author of Debt Accumulation by Premier: British Columbia.

Specifically, provincial government debt per person reached $17,147 in 2024 under Premier Eby—an average annual increase of $2,612 (inflation adjusted to 2024$), or a total increase of 44 per cent over two years, and the highest-level on record covering the 1969 to 2024 period.

By comparison, among premiers who were in power for more than a year, the next largest average annual (inflation-adjusted) increase in per-person government debt was under Michael Harcourt (1992-1995), which averaged $487. In other words, Premier Eby is increasing per person provincial government debt (inflation-adjusted) at more than 5 times the rate experienced by the next highest ranking premier, Michael Harcourt.

"The comparison with Premier Harcourt, who continues to be considered a premier that accumulated substantial debt in the province is more than a little worrying given that Premier Eby is accumulating debt at more than five times the rate," commented Eisen.

In contrast, several premiers recorded actual declines in provincial debt (inflation adjusted) over their tenures. Both William Vander Zalm ($37 per year) from 1986 to 1990 and Gordon Campbell ($32 per year) 2001 to 2010 recorded average annual declines in per person provincial debt during their respective periods as premier.

"Compared to other recent B.C. premiers, the Eby government's pace and level of debt accumulation are truly record-breaking," Eisen said.

"B.C. taxpayers will ultimately pay for this debt binge in the form of higher debt interest costs and possibly future tax hikes."

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The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, Halifax and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute's independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org

SOURCE The Fraser Institute

MEDIA CONTACT: Ben Eisen, Senior Fellow, Fraser Institute, To arrange media interviews or for more information, please contact: Drue MacPherson, 604-688-0221 ext. 721, [email protected]