Provincial budget & finance

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

Climate policy: contradiction #2

Feb 4, 2009
Speaking of BC climate policy contradictions that desperately need to be addressed (like I was doing here), wrap your head around this: our current policy framework is supposed to simultaneously reduce consumers’ dependence on fossil fuels and increase our dependence on fossil fuel production in the province. What? It’s true. It works like this. If… View Article

BC blinks on running a deficit

Feb 2, 2009
Now that the federal budget is over, I’ve been girding myself for the Feb 17 BC budget. My concern to date has been bold statements from both parties that they would never run a deficit, and that therefore we were in for a rerun of last Fall’s federal election where all parties kowtowed to the… View Article