B.C. finance minister Colin Hansen has introduced a $40.6-billion provincial budget with a $1.7-billion deficit.

The Liberal government’s 2010 budget projects deficits of $1.7 billion in 2010-11, $945 million in 2011-12, and $145 million in 2012-13.

The government promises to bring back balanced budgets by 2013-14.

According to the government, its revenue is expect to grow annually at a rate of 4.9 percent over the next three years, after “declining growth” in 2008-09 and 2009-10.

The forecast for total government revenue is $39.2 billion in 2010-11, $41.0 billion in 2011-12, and $42.8 billion in 2012-13.

The government projects that its expenses will total $40.6 billion in 2010-11, $41.6 billion in 2011-12, and $42.5 billion in 2012-13.

The total provincial debt is expected to reach $47.8 billion in 2010-11, $52.4 billion in 2011-12, and $55.9 billion in 2012-13.

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