B.C.’s economic forecast for 2025 uncertain due to 2 unpredictable factors, experts say [Video]

Affordability was one of the top issues — if not the top issue — for British Columbians during the 2024 provincial election. After several years of high inflation, residents are looking for a bit of a break at the cash register. 

But it’s unclear if there’ll be relief for consumers in 2025, with the province’s economic forecast uncertain due to a couple of unpredictable factors, economist Ross Hickey says. 

First, in November, Prime Minister Justin Trudeau announced a “GST holiday,” cutting general sales tax on a select number of items including books, take-out and baby items for two months, starting Dec. 14. 

At the same time, he announced $250 payments for Canadians who earned $150,000 or less in 2023, in April. 

This, along with president-elect Donald Trump’s threat of a 25 per cent tariff on Canadian goods, makes it a little tougher for experts to know what lies ahead, Hickey said. 

“When President Trump is in office, uncertainty increases,” …