Overview

• Q1 update projects a $6.5 billion deficit for 2025–26, about $1.3 billion wider than the spring budget forecast.
• Resource revenues are now pegged $1.4 billion below budget and roughly 38% under their 2022–23 peak, at a forecast $15.7 billion.
• The province lowers its WTI assumption to US$63.75 per barrel, with each US$1 change worth about $750 million to the bottom line.
• Operating expenses are forecast at $65 billion, up $679 million from Budget 2025, largely reflecting public‑sector wage growth.
• Revenue shifts include a $236 million lift in corporate income tax and a $500 million gain in investment income, while personal tax receipts fall nearly $600 million as U.S. trade uncertainty remains a key risk.