IS MR. EBY LISTENING?

"The rich rule over the poor, and the borrower is slave to the lender."

---

🎙️ VOICE of NANAIMO

▶️ Click Play to listen

---

 B.C.'s Nanaimo housing claim equals about 43 days of provincial debt interest

Using B.C.'s own Public Accounts, the province spent $15.72 billion on interest from 2020/21 to 2024/25 - about $8.61 million a day.

By Jim Taylor

A provincial press release says the government invested $367 million in housing in Nanaimo between 2021 and 2025.

That is a significant number. But it needs context.

Over the same five-year fiscal period, B.C. spent $15.72 billion on interest - money used to service debt rather than deliver programs or build new infrastructure.

That works out to about $8.61 million every day.

At that daily rate, the entire $367-million Nanaimo housing claim is equal to about 42.6 days of provincial interest costs - roughly six weeks.

This does not mean housing dollars are unimportant. It means taxpayers should see the scale of the debt burden beside the government's announcements. Interest payments do not build homes, fund supportive housing, hire trades, or provide local services. They are the price of past borrowing.

When government describes spending as an investment, British Columbians deserve the full picture. In this case, the claimed five-year Nanaimo housing investment is about the same as 43 days of interest on provincial debt.

"The entire $367-million Nanaimo housing claim equals roughly 43 days of B.C. debt interest - about six weeks."

Quick comparison

B.C. interest expense, 2020/21 to 2024/25	$15.72 billion
Total days in period	1,826 days
Average interest per day	$8.61 million/day
Nanaimo housing claim	$367 million
Equivalent interest-days	42.6 days
Plain-language equivalent	roughly six weeks

Debt-interest calculation

Fiscal year	Interest expense	Days	Average per day	$367M equals
2020/21	$2.722B	365	$7.46M/day	49.2 days
2021/22	$2.742B	365	$7.51M/day	48.9 days
2022/23	$2.719B	365	$7.45M/day	49.3 days
2023/24	$3.292B	366	$8.99M/day	40.8 days
2024/25	$4.245B	365	$11.63M/day	31.6 days
Total / avg.	$15.720B	1,826	$8.61M/day	42.6 days

Official source: B.C. Public Accounts 2024/25 PDF