CCPA Policy Note

Entries Tagged as 'deficit'

Balanced Budget Legislation – another zombie policy returns from the dead

April 11th, 2015 · · 1 Comment · Economy, Provincial budget & finance

Ah, here we go again – when seeking to assert credibility as sound fiscal managers, governments reach for the tired gimmick of “balanced budget legislation” (BBL). It’s not about good economics. Nor about good public policy. Just crass politics. And now the federal government is once again dangling this useless policy ploy. The CCPA-BC was […]

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Reality check on government spending: is the overspending fear mongering justified

May 9th, 2013 · · 2 Comments · Economy, Provincial budget & finance

Both main parties in this election campaign are accusing the other of being big spenders. The BC Liberals claim the BC NDP is making election promises that are too expensive and argue the 1990s (the last time the NDP was in government) was a time of particularly high spending. The BC NDP points out that […]

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Assessing BC’s Fiscal Health: Can BC afford more deficits?

April 17th, 2013 · · Comments Off on Assessing BC’s Fiscal Health: Can BC afford more deficits? · Economy, Provincial budget & finance, Taxes

By Seth Klein and Iglika Ivanova [Note: this piece has also appeared in the Tyee here.] OK, time for a reality check on BC’s deficits. Simply put, while arguments about deficits and “who is the better fiscal manager” may make for entertaining politics, there is no compelling economic reason why BC cannot run a few […]

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BC isn’t broke: putting teacher bargaining in perspective

March 2nd, 2012 · · 99 Comments · Economy, Education, Employment & labour, Poverty, inequality & welfare, Privatization, P3s & public services, Provincial budget & finance, Taxes

Last Monday, BC teachers held a Day of Action in communities across the province to protest the BC government’s decision to legislate a contract and put an end to their collective bargaining process. I was invited to speak to teachers at the Surrey rally, where I had the opportunity to share some of my analysis […]

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Our priorities for BC Budget 2011

September 17th, 2010 · · Comments Off on Our priorities for BC Budget 2011 · Housing & homelessness, Poverty, inequality & welfare, Provincial budget & finance, Taxes, Transparency & accountability

On September 15, I presented CCPA-BC’s recommendations for BC Budget 2011 at the Vancouver BC Budget Consultation public hearing. Take a look at my presentation slides for a brief overview of our take on BC’s current budget situation and economic outlook, and our advice for leading the province’s recovery.

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BC’s 2009 Super-Fudge-It Budget

July 12th, 2010 · · 4 Comments · Provincial budget & finance

Under the “we told you so” category, I am filing the BC public accounts for 2009/10. The province closed the year with a deficit of $1.8 billion. As Will McMartin comments in The Tyee: … B.C.’s public accounts for the fiscal year 2009/2010 conclusively prove that the pre-election fiscal plan foisted on British Columbians by […]

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The recent secretive, haphazard spending cuts should be repealed

September 23rd, 2009 · · Comments Off on The recent secretive, haphazard spending cuts should be repealed · Children & youth, Economy, Education, Provincial budget & finance, Transparency & accountability, Women

Almost daily we wake up to news of yet another important program or initiative whose funding has been cut by the BC government. Literacy initiatives, high school sports, programs that protect women and children from violence, arts and culture: hardly an area of social service provision has been spared. These cuts have been devastating to […]

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What should our government be spending money on?

September 16th, 2009 · · Comments Off on What should our government be spending money on? · Economy, Education, Environment, resources & sustainability, Provincial budget & finance, Taxes

One question that is missing from the public debate on deficits and debt is whether we’re getting the best bang for the stimulus buck. Even if we accept that it’s appropriate for governments to borrow and engage in deficit-financing during a recession, as I have argued here, we need to have a discussion about the […]

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Putting our government debt in perspective (now with graphs)

September 15th, 2009 · · 2 Comments · Economy, Provincial budget & finance

It turns out that our province is in a good fiscal position to engage in deficit-financing at this time. BC’s debt-to GDP ratio has been decreasing since 2002, which means that out government debt fell relative to our collective ability to pay. As a result, BC entered the recession as one of the Canadian provinces […]

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Should we be afraid of the government debt?

September 15th, 2009 · · 1 Comment · Economy, Provincial budget & finance

Governments around the world are running large deficits in order to prop up their economies and dampen the hit of the global recession. For almost a year now, economists abandoned their usual anti-deficit arguments and seemed to agree that increasing government spending to stimulate the economy is the best way forward. We were all Keynesians […]

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