Gordon Campbell is forced out of the Premiership, Christy Clark steps in as Premier, her Finance Minister Kevin Falcon comes out with this Budget and Fiscal plan on May 3rd, 2011 and yesterday, the Finance Minister expectations (finance) is going Down, Down, Down in Revenue. When is the Revaluation spending and tax measure assumptions of the five year plan going to be implemented to achieve a balanced budget, ever, under the BC Liberals? Fact is, if any government takes up the reins of these fast spending BC Liberals, can any government ever have a Balanced Budget seeing as how the taxpayer debt burden has DOUBLED since the BC NDP were ushered out of Office. Deferral accounting practices are good, you say.
Should revenue be lower than that projected,
government would need to re-evaluate the
spending and tax measure assumptions of the
five year plan in order to achieve a balanced
budget. However, should revenue outperform
the forecast, government will have the option of
achieving a balanced budget earlier, enhancing
services, or further reducing taxes for British
Columbians. -Budget and Fiscal Plan 2011/12 – 2013/14 - B.C. Budget May 3rd, 2011
He said B.C. now expects a deficit of $3.1 billion for the 2011-12 fiscal year, up $313 million from the projection he made at the end of the first quarter, just three months ago.
Falcon said he remains committed to the government’s 2013-14 goal if at all possible, but won’t be able to make a clear projection on it until mid-January.
He said he will be watching some key indicators over the next month, monitoring how the international economic situation unfolds and will meet again with independent economic forecasters.
“We’ll get the results by mid-January and I will then be able to know whether we can still responsibly say we’re going to balance in 2013-14.” Jonathan Fowlie November 29, 2011 - Vancouver Sun
|B.C. now expects a deficit of $3.1 billion for the 2011-12 fiscal year|