British Columbia's Finance Minister Brenda Bailey says the first quarterly update for the 2025/26 fiscal year will update B.C.'s economic landscape and her government's three-year-fiscal plan.

Bailey, who will present her update this morning at the provincial legislature in Victoria, says the update will also include reporting on revenue and spending in the first quarter of the fiscal year.

The final update for the last fiscal year pegged B.C.'s deficit at $7.3 billion, $564 million lower than original projected number in budget 2024, and $1.8 billion lower than the third-quarter forecast.

Bailey's update comes amid strike actions by members of the BC General Employees' Union representing about 34,000 public service workers across B.C. and the Professional Employees Association, as well as rising unemployment.

Figures from Statistics Canada released last month show the province's unemployment rose by 0.3 per cent to 6.2 per cent in August.

Both Bailey and Premier David Eby have also spoken of "economic headwinds" caused by tariffs imposed by the U.S. President Donald Trump's administration.