The province’s books are awash in red ink as Finance Minister Brenda Bailey revealed Monday during this year’s first quarterly update that B.C.’s already-record deficit is only expected to increase in the years to come.

According to Bailey, the government is expected to finish the year $11.6 billion in the red, $665 million higher then what March’s budget projected, as provincial revenues take a hit from lower natural resource prices and the elimination of the consumer carbon tax. The carbon tax alone has reduced projected revenue by $2.8 billion.

The downturn in the housing market has also had an impact, with $247 million less coming in than expected from the property transfer tax.

While the government padded its revenue projections by including the $2.7 billion it is expected to recei

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