With economic uncertainty as the backdrop, it was critical for the BC government to put forth a prudent budget. Finance minister Kevin Falcon acknowledged as much by reassuring British Columbians that the budget was built on fiscal discipline and lays a firm foundation for the future. Falcon even warned of the perils of additional government taxes, spending, and borrowing in the current economic environment, calling such measures potentially catastrophic.
bc economy
March 9, 2012
2:00AM
September 3, 2009
2:00AM
BCs September Budget Update is unlikely to live up to its promise of protecting vital services and building for the future. Instead, the big-spending, tax-increasing, debt-loving budget is a step back from BC's recent progress and will burden, rather than build for, the future.
Start with the seemingly unavoidable $2.8 billion deficit. According to Finance Minister Colin Hansen, the government was forced into deficit largely as a result of a loss of $2 billion in expected revenues. The $2 billion figure certainly captured the attention of the media.
March 2, 2009
2:00AM
With BC facing a recession, the provincial government had good reason to re-focus on the economy in its 2009 budget. Unfortunately, the government did not make the tough decisions required to make British Columbia more competitive and attractive for investment and business development.
For starters, little was done to improve incentives to work, invest and take entrepreneurial risks. Reduced personal income and business taxes would have improved these incentives and provided a stronger foundation for wealth creation now and in the future.
October 3, 2007
2:00AM
For more than a decade, Albertans have enjoyed the benefits of Canadas most successful economy, in large part due to the Alberta Advantage. The widely recognized Alberta Advantage is based on the combination of Canadas lowest tax rates, smallest government and most attractive investment climate. However, the provinces focus on the Alberta Advantage has been slowly eroded. British Columbia now has an opportunity to surpass Alberta and create a BC Advantage consisting of the lowest personal income and business taxes in Canada.
February 26, 2004
2:00AM
The BC Liberals third full budget, delivered this past Tuesday, offers a few positive measures to bring about fiscal responsibility; unfortunately, it was largely void of an overall vision for the future of the province on how to deliver prosperity.
On the positive side, the Liberals should be commended for balancing the provinces budget. In addition, BC became the first province in Canada to comply with generally accepted accounting principles (GAAP), making its books the most transparent in the country.
March 21, 2001
2:00AM
Historically, British Columbia has enjoyed a high level of prosperity expressed in high incomes, low unemployment, strong investment, and a wealth of opportunities. In a brief decade, the provincial economy has been transformed from a strong, vibrant entity into one characterized by weakness and mediocrity. Only a radical change in government policy will return British Columbia to its traditional place of economic prosperity.