The BC Liberal government came out with the latest budget yesterday and it entails the “status quo”. The most interesting part of the budget is a spare $600 million contingency fund and $350 million forecast allowance. Now what could that be used for?
This would be used by the new Premier to set the direction for the government before elections. Now, I am thinking the Evergreen Line is exactly $600 million short of funding, so… election surprise?! Or perhaps the public is leaning towards the NDP so the Liberals beef up healthcare and education. The options are indeed “flexible.”
At the end of the day, the budget is decent considering the circumstances of an upcoming change in leadership. I hope the HST stays because it is so good for creating jobs and the economy. The drop in the worldwide economy the past couple of years has hurt BC because we are resource-based on our exports, so the HST will help on the manufacturing side of things.
Corporate tax cuts have spurred more businesses to re-locate to Vancouver and corporate tax revenues have thus increased.
As the economy picks up, BC will see great prosperity ahead.