BC Government Confirms Errors Worth $1.46B in Gas Revenue Forecasts
Errors including botched currency conversions led the British Columbia government to overstate its forecasted natural gas revenues by about $1.46 billion over five fiscal years, officials confirmed on Tuesday. Senior staff with the ministries of energy and finance told a technical briefing the errors had been independently verified and corrections would be included in the [...]
TL;DR
- BC government overstated natural gas revenues by $1.46 billion over five fiscal years.
- Errors included botched currency conversions, specifically incorrect US-Canadian dollar calculations.
- Senior staff from the energy and finance ministries confirmed the independently verified errors.
- Corrections will be included in the province's upcoming quarterly fiscal report.
- The impact on the provincial deficit will be clarified with the report's release.