Fiscal Management: Outgoing Premier John Horgan Performs Well in Deficits and Debts

On Premier John Horgan’s last day in office, we take a look at where he ranks amongst the ten other Premiers across the country in terms of fiscal management.

“Sound fiscal policy is a crucial driver of economic well-being for the people of a province, and the premier sets the direction of a government,” said Jake Fuss, associate director of fiscal studies at the Fraser Institute.

In a new study released today by the Fraser Institute, Horgan ranks fifth in fiscal management, while New Brunswick’s Blaine Higgs comes in first.

Fiscal performance of Canada’s Premiers, scored out of 100. (Photo via Twitter / @FraserInstitute).

The study assessed the relative fiscal performance of Canadian premiers (eight current and three former) up to 2021/22. In Horgan’s case, he was evaluated when he took office in 2017.

Premiers were measured on three fiscal policy categories: government spending, taxes, and deficits and debt.

Premiers that ranked higher managed spending more prudently, balanced budgets and paid down debt, and reduced or maintained competitive tax rates.

Within the three categories, Horgan performed highest within deficits and debt, ranking fourth with a score of 80.9 (out of 100). Next, he placed fourth in taxes with a score of 39.4, followed by 7th in government spending with a score of 48.

“All premiers have room for improvement and given the importance of sound fiscal policy, they all should look to prioritize restraint in spending, balanced budgets, lowering debt levels and establishing a more competitive provincial tax system,” Fuss said.

With David Eby set to be sworn in as B.C.’s 37th premier on Friday, British Columbians hope he will continue to improve upon a theme of prudent and efficient fiscal policy.

(Top photo of British Columbia Premier, John Horgan via Twitter / @jjhorgan).