B.C. needs to pull out of its debt spiral

Premier Horgan really needs to start getting his spending under control

B.C. needs to pull out of its debt spiralThe interest payments on British Columbia’s provincial debt this year could pay the salaries of 4,600 new paramedics for 10 years. But, instead of paying for first responders or providing tax relief to families, a whopping $2.8 billion is being sent to bondholders on Bay Street and Wall Street every year to pay for our…

B.C. can’t keep spending like there’s no tomorrow

The Horgan government says that by 2024, it’s going to be $127 billion. That’s an increase of 45 per cent in three years

B.C. can’t keep spending like there’s no tomorrowThe sun will come out tomorrow and we need to start acting like it. Politicians keep telling us that we need to buckle up while they overspend like there’s no future, but, when we finally emerge from the COVID Tunnel of Hell, taxpayers can’t afford for governments to keep spending our bottom dollars. Premier John…

B.C. budget must be prudent

Provincial debt is more than $75 billion, and it’s increasing by $100 per second

B.C. budget must be prudentBritish Columbia’s last budget feels like something from a distant, pre-pandemic past. Now the province’s throne speech gives a little glance into the future budget. And if we’re going to get back to balanced budgets, we’re going to have to go faster than Marty McFly to fix our finances in the future. Back in the…

B.C. must rein in public sector wages and benefits

Bringing government employee wages and benefits in line with private-sector norms is key to balancing B.C.’s budget

B.C. must rein in public sector wages and benefitsBy Charles Lammam, Hugh MacIntyre and Milagros Palacios The Fraser Institute During last year’s election campaign and in his first full budget as premier, John Horgan promised to balance British Columbia’s operating budget. If his NDP government remains committed to this promise, the coming negotiations on compensation with 183 public-sector unions will be critically important. After…

Insurance Corp. of B.C. faces uncertain future

Canada’s only mandatory insurance provider is digging a deep financial hole and the B.C. government is looking for answers

Insurance Corp. of B.C. faces uncertain futureIt’s no secret that the Insurance Corp. of British Columbia (ICBC) is under financial distress. But should it be saved? In 2016-17, it suffered its largest loss ever – $889 million, an amount equal to 18 per cent of its total premiums. What’s worse, it’s heading for an even larger $1.3 billion loss this year,…

The folly of embracing universal daycare

Quebec’s experience with government-subsidized daycare should serve as a warning for B.C.

The folly of embracing universal daycareThe recent British Columbia provincial budget makes it clear that the government is forging ahead with plans to pursue universal government-subsidized daycare. But B.C. is not the first to go down this path and there are lessons to be learned. While the 2018 budget didn’t explicitly call for $10-a-daycare – a key plank in the NDP’s…

B.C.’s budget cools the economic climate

The B.C. budget does little to improve the investment climate or mitigate the effects of policy changes emanating from the U.S.

B.C.’s budget cools the economic climateBy Charles Lammam Hugh MacIntyre The Fraser Institute The fact that the first full budget from B.C.’s new government includes major tax increases will likely go unnoticed by many – unfortunately. Instead, many economic commentators will focus on the government’s aim to balance the operating budget every year. A fiscal framework that avoids the deficit-financed…

B.C. at a fiscal crossroads

It can continue to pursue fiscal prudence or follow other provinces that are plagued by chronic shortfalls and ongoing budgetary challenges

B.C. at a fiscal crossroadsBy Charles Lammam and Hugh MacIntyre The Fraser Institute As the old cliché goes, if you don’t learn from past mistakes, you’re doomed to repeat them. But the opposite is also true – learning from previous successes can be as valuable. As it prepares to introduce its first full budget, British Columbia’s NDP government would do well…

Big spending, big problems on the horizon for B.C. government

Despite the promise of yet more new programs to come, there’s actually little room in the budget for more spending

Big spending, big problems on the horizon for B.C. governmentBy Charles Lammam and Milagros Palacios The Fraser Institute British Columbia’s new government has tabled its first budget, proposing to ramp up spending and shrink last year’s $2.7-billion surplus to almost zero, despite enacting a host of economically-damaging tax increases that the NDP campaigned on. And the budget does’t include everything the New Democrats promised during the…

B.C. budget abandons any hope for efficient carbon tax

Subsidizing green projects with revenue from carbon taxes may be politically popular but it’s fundamentally misguided policy

B.C. budget abandons any hope for efficient carbon taxBy Kenneth P. Green, Elmira Aliakbari and Ashley Stedman The Fraser Institute In its first budget, B.C. Premier John Horgan’s government recently said it would raise the carbon tax rate by 66 per cent over the next four years. And it rejected revenue neutrality, undermining the case for an economically efficient carbon tax. British Columbia’s…