VICTORIA, B.C. - The B.C. Liberals return to the legislature today to undo their much-touted balanced-budget law and clear the path for a deficit budget next week.
Premier Gordon Campbell once staked his political career on slaying budget deficits, but he's been forced to admit B.C. is bleeding red ink with the rest of the world.
The Liberals will use the next week to amend the legislation outlawing forecasts of budget deficits, which they brought in shortly after they were elected with a massive majority in 2001.
Finance Minister Colin Hansen says B.C.'s revenues are suffering and a deficit is now inevitable when he tables his budget Feb. 17.
The Opposition New Democrats say the government was in economic denial while the rest of the world was making plans to confront the economic meltdown.
B.C. voters go to the polls in a provincial election in May.
