Economy

Breaking free of the “balanced budget” chains

Jan 25, 2009
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As the next provincial budget is prepared (and election platforms are written), a core reality is this: we face huge economic uncertainty, which makes forecasting very difficult. With each passing month, economists are downgrading their GDP growth forecasts, and GDP growth (or decline) is what drives provincial revenues. In the face of this uncertainty, we… View Article

Fiscal tipping points

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Budget making is an art. An underlying reality of BC budgeting is that it takes very little to tip provincial finances from surplus to deficit and back again, mainly due to factors outside the province’s control. Recall, for example, that during the Liberal’s first mandate, they inherited a surplus, then brought down two of the… View Article

Poverty reduction: the time is now

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There is a growing chorus calling for a BC poverty reduction plan, calling for commitments to this from all political parties ahead of the May election. But some say, given the economic downturn, we can no longer afford to commit to a bold plan now. On the contrary, now is precisely when such a plan… View Article