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B.C. provincial budget deficit climbs to $13.6 billion; ICBC makes money
COVID-19 spending, while the provincial economy continues to improve from the spring.On Thursday, Finance Minister Selina Robinson said the province is also expecting another $1.4 billion in revenue from the first-quarter fiscal update.ICBC, meanwhile, is forecasting a net income of $410 million, up from $86 million mainly due to savings from lower claims costs because of fewer accidents and a recovery of investment losses sustained at the end of 2019/20. B.C.’s 2019-20 budget battered by COVID-19, deficit expected to climb further “2020 has been a tough year for families, communities and our economy.