Saturday, August 27, 2011

The Federal $1.6 Billion incentive for BC to join the HST bandwagon SEESAW repayment plan C

Canada to the Left ----British Columbia to the Right

Oh for goodness sakes, was the Gordon Campbell government so dense about their 2009 election promises not to realize that they were far greater in debt than the promised $500 million, or was it the $1.6 billion from the Federal Harpies that they saw in advance of the election that would save their bacon..... day?

Look, it was the provincial government that created this HST mess for themselves because of their limiting belief of a Balanced Budget Act.   They were so sure that they would never see a deficit that they NEVER planned for the possibility.   They still don't recognize that the world, in 2008, had a recession.

If anything, after the BC Liberals won in 2009, they should have put it to a vote, by Referendum to go to a Harmonized Sales Tax.  But they didn't!  There's a perception on the public's part that the BC Liberals lied about our financial position before, during and after they won the election until the point that a deputy financial minister said .... HELLO...... we need more money to fulfill the government's promises, and/or change the law of a Balance Budget or both.

In steps the Federal knight in shining amour with a carrot, $1.6 billion worth to save the day, not cold, hard carrots, nor dollars.  The $1.6 billion monies has to be borrowed with one catch, borrowing fees costing close to $3 billion over ten years is tacked on top, from all Canadians or was it from an Account marked "British Columbia future payments."

HST Referendum results comes along on August 26, 2011 and Finance Minister Falcon says with the extinguishment of the HST, the $1.6 billion will either have to "negotiated" with the Feds or paid back in whole.... and the borrowing fees over the next ten years are not even mentioned.... eh.

I sure with I could borrow a paltry $1 million without any borrowing fees..... I could invest it and earn a ton of loose cash, even at 3% per year.... what a sweet deal.....

Canada borrows $1.6 Billion to loan to British Columbia via the HST Incentive Carrot
HST Referendum Yes side wins to Extinguish the Tax

British Columbia borrows $1.6 billion to pay Canada back for the Carrot recieved

No one mentions the borrowing fees

Nor the length of time of the borrowing fees

All that Finance Minister Falcon says is that it will be paid off in two years

Just before the next provincial election

1 comment:

Anonymous said...

The HST was a scam by, Campbell, Hansen and Harper. They colluded on the HST, long before the BC election. The BC citizens, had the HST forced on them. We citizens didn't make a deal with the devil, Campbell and Hansen did.

Canada is now a cesspool of corruption. Harper has fouled and dirtied Canada's, once good name.

Harper lied to Europe. He was trying to con Europe into believing, the dirty tar sands oil, is clean energy.

Harper needed someone with no morals or ethics, to con Europe. That's why he chose Campbell, as High Commissioner to England. His main duty is to con Europe, into taking the dirtiest energy on the planet.