Provincial budget & finance

Charity doesn’t buy a lot of shoes

Feb 17, 2009
OK, this is just a little crass, but the calculation begs to be done. It apppears rather than buying himself a new pair of shoes for the Budget Speech, the Finance Minister has donated $4,000 to the Salvation Army to buy 100 pairs of running shoes for poor children. A generous gesture. But if he… View Article

Tales from the Mouth of the Fraser

Feb 16, 2009
With the BC budget just 27 hours away, in today’s Vancouver Sun, you can find my pre-budget oped. Alas, as often happens, I am paired with the Fraser Institute for the Economically Insane. In today’s edition, Neils Veldhuis and Milagros Palacios act as yang to my yin. Their pre-budget oped seems strangely distant from the… View Article

Budget reality check

Feb 11, 2009
The provincial government officially changed its no-deficits-no-matter-what tune this week with its proposed amendments to BC’s balanced budget legislation. Not too surprising. To reject the view of economists far and wide that red is the new black by insisting on a balanced budget at all costs would be political suicide, not to mention bad policy…. View Article

About that unemployment rate

Feb 6, 2009
A couple days ago I was musing about big job losses on the horizon. Today, there is good news and bad news. The good news is that total employment has only dropped by 1.7% between Jan 2008 and Jan 2009. The bad news is that total unemployment surged by 50% over the same period. OK,… View Article

Love Those Deficits

As noted by Vaughn Palmer in the Vancouver Sun, it seems that all the political parties will benefit from Premier Campbell’s recent conversion to deficit budgets. While deficits are the obvious outcome of a rapidly decreasing economy, little is mentioned about the long-term effects that successive waves of tax reductions will have on building BC’s… View Article