BC Budget 2013-14.

[John500]

Any idea how long it will take, if the Lieberals get re-elected, to find out there is a deficit after all?

[Veovis]

Saying the Liberals have done the NDP "dirty work" of raising taxes would be an accurate assessment, however I don't think many people are too shocked that that was what was going to happen.

The catch is, I think, is how they play it politically. Since everyone assumes the NDP win the next election, they expect these tax hikes anyways, however the hikes are the same, but what does that leave the NDP to say, as "we'll increase spending to programs" just screams, we'll have to double or triple the tax hike.

Otherwise where does the magic money come from? The NDP still have to present a platform that is affordable somehow and they could be chewed up by "We've already regrettable had to raise taxes, the NDP will need to triple it to meet their promises." That would hurt NDP support to a segment of voters.

I have a hunch the NDP would actually campaign on not having new taxes, and then hit anyone making over 75,000 a year, and call them "the rich" to make it sound ok.

[hobbyguy]

The tax increases are the inevitable result of Gordo being irresponsible and cutting income taxes to get elected. At least the party under CC is starting to see the error of its ways.

Things like park fees, MSP premiums etc. really annoy me, but I have never minded paying a fair income tax...

[Gone_Fishin]

The big jump in the early 2000s in MSP was to pay for.......wait for it....
.......union pay increases in the healthcare field. Fact.
One day people lobby for public sector union workers to get pay increases, and the next day they cry because they have to pay for it. We live in a strange world, indeed.

[


What a pile of bull crap. the increase in wages to the employees paled in comparison to the other rising costs of the time.
Your gut feeling that it was because of Union Wages is called truthiness. An actual word BTW. Truthiness is when you assume your gut feelings are true.
Are you saying that if we start to pay all the healthcare workers minimum wage and no benefits then we could go back to the $50 a month we used to pay? I am sure you believe this however although paying a reasonable wage does cost more, in the grand scheme of running a healthcare business it does not add up to a hill of beans.

You're wrong, and I'm right. Premiums were woefully inadequate before the increase to pay for union demands. The NDP just borrowed and borrowed and borrowed as they gave massive wage increases to healthcare workers, whereas Campbell made users of the medical system pay for them instead when he was faced with the NDP hangover and another large increase given to HEU workers. At first, Campbell tried to roll back the increase (the infamous "tearing up contracts" move much maligned by the labour movement), but when that failed, he increased premiums to pay for the increase.

Some want to forget, and re-write history. Not me. Je me souviens.

[SmokeOnTheWater]

Yes when I think of old union workers the first thing I think of is just how darn efficient they are...

Are you saying that nurses, paramedics, firefighters don't a good job ?

[NAB]

""There are two things you can generally count on every year when a Liberal finance minister unveils the provincial budget at the Victoria Conference Centre.

The business leaders gathered in the annual budget lock-up show their appreciation for another pro-business economic blueprint with a warm round of applause.

And then those same business leaders heap praise on the government for the benefit of the TV cameras and the rest of the assembled media.

Neither happened Tuesday, after Finance Minister Mike de Jong unwrapped a pre-election budget that featured corporate tax hikes and a surprise increase in income taxes on high-wage earners. Yes, the budget is balanced — barely — and business leaders credited the government for holding the line on spending.

But after de Jong finished taking questions from the media during the lock-up — the traditional closed-door confab where reporters and stakeholders get an advance look at the budget documents — there was no round of applause.

Instead, there was silence. And then pointed criticism from business groups that normally support the Liberals.

"B.C. has been one of the most competitive business jurisdictions in North America, but that's now under threat," said Greg D'Avignon, president of the Business Council of B.C.

"The cost of doing business here is making us uncompetitive," he said, slamming the new tax hikes, the continuing carbon tax, the looming return of the provincial sales tax and increases in business fees.

But wouldn't an NDP government jack up taxes even higher, and be even worse for business? Shouldn't business just grin and bear it with an election right around the corner?

D'Avignon didn't bat an eye.

"We're a non-partisan organization," he said. "You have to be intellectually honest. We're a less attractive place to invest now."

Taking heat from business is an uncomfortable place for the Liberals, who constantly claim they're the pro-business party, while insisting the NDP are the ones who would jack up taxes and drive away investment. By doing themselves what they accused the NDP of conspiring to do, the Liberals have surrendered a key line of attack in the election campaign.

Strangely, this pre-election budget also contained little in the way of promised goodies for voters in that looming campaign, leaving many Liberals I consulted Tuesday to privately wonder how Christy Clark plans to save all their skins.

Apparently, she's saving her best stuff for the campaign trail, because there sure wasn't much in the budget.""


http://www.theprovince.com/business/Cor ... story.html

[steven lloyd]

The tax increases are the inevitable result of Gordo being irresponsible and cutting income taxes to get elected. At least the party under CC is starting to see the error of its ways. Things like park fees, MSP premiums etc. really annoy me, but I have never minded paying a fair income tax...

Things like park fees, MSP premiums, and especially consumption taxes disproportionately target the lower and middle income groups. The Liberals low personal income tax scheme is one of the greatest electoral scams and smoke and mirror show ever pulled on a brain dead electorate. Open, fair and honest government? Maybe one day we’ll stop voting to perpetuate the status quo and continual re-election of governments we deserve.

[flamingfingers]

SL - By saying we 'get the government we deserve' you appear to me to be making excuses for government lying to us, shafting us at every turn and ripping us off to reward their friends. As if this should somehow be expected and accepted.

Why don't you put a measure of blame on MLAs and party members who are 'supposed' to govern with some honor, integrity and morals? We vote for people who espouse transparency, accountability and openness, yet they do all in their power to prevent us learning what they are in fact actually doing. Aided undoubtedly by a lazy and bought MSM.

What is our recourse short of an election? Recall is a sick joke.

We certainly do NOT 'deserve' this corrupt, stinking pile of thieving liars!

[steven lloyd]

Why don't you put a measure of blame on MLAs and party members who are 'supposed' to govern with some honor, integrity and morals? We vote for people who espouse transparency, accountability and openness, ...

They may espouse transparency, accountability and openness, but they have repeatedly (over and over and over again)demonstrated they will not and have no intention of delivering on it. Still, we (the electorate collectively) reward them through re-election and we (collectively) have the government we deserve. If there is no change then there is no change.

[Gone_Fishin]

What is our recourse short of an election? Recall is a sick joke.

We certainly do NOT 'deserve' this corrupt, stinking pile of thieving liars!

No kidding. When NDP MLAs were facing recall, Adrian Dix orchestrated thousands in illegal union donations that were never properly claimed by the NDP proponent side. And yet, here he is leader of the NDP, a corrupt, stinking, thieving liar. It sucks for the electorate, that's for sure. We deserve better.

As far as the budget is concerned, it has withstood the scrutiny of BC's CGA Association. That's an endorsement very few governments EVER get.


B.C. Budget Marks Return to Fiscal Basics


FOR IMMEDIATE RELEASE

February 19, 2013

VICTORIA, B.C. – February 19, 2013 --- Finance Minister Michael de Jong has marked the government’s return to fiscal discipline with a balanced budget and a $197 million surplus for 2013-14, Candace Nancke, FCGA, Chair of the Certified General Accountants Association of B.C. said today.

“Families and small businesses have to show that discipline and live within their means every day. And government should be no different,” Nancke said. “The minister has achieved this through a combination of spending cuts, the sale of some surplus properties and modest tax increases,” Nancke said. “We like this direction as it shows willingness by government to say ‘no’ and limit spending increases and recognizes that the province must stay on track for the future.” Surpluses of $211 million are expected in 2014-15 and $460 million in 2015-16.

Nancke said that good debt management remains high on the government’s radar. Taxpayer-supported debt is forecast to be $42.6 billion in 2013-14 and will reach $46.1 billion in 2015-16. While the Association has expressed concern about rising debt levels it recognizes that B.C.’s debt-to-GDP ratio at 18.3 per cent in 2014-15 remains relatively low compared to provinces such as Ontario and Quebec which have much higher debt-to-GDP levels.

Other changes include:

Increasing the general corporate income tax rate to 11 per cent from the current 10 per cent as of April 1, 2013. While the tax rate remains the third lowest in Canada (after Alberta and New Brunswick), the Association has cautioned in the past that even minor increases to tax rates can affect the province’s competitive position. This could reduce economic growth at this critical time.
A temporary two-year increase in the personal income tax rate to 16.8 per cent from 14.7 per cent for individuals earning more than $150,000 starting January 1, 2014. While these increases are not always welcome, they will help boost revenues ensuring good fiscal management.
Addressing the sometimes contentious carbon tax and its impact on farmers by providing a carbon tax exemption for the same coloured motor fuels and $20 million to provide relief for commercial greenhouse operators.

--------------------------------------------------------------------------------


ABOUT CGA-BC
CGA-BC represents almost 11,000 CGAs and nearly 5,000 CGA students in the province of British Columbia. Our members provide financial management and accounting services to small and medium-sized businesses across the province and occupy financial management and leadership positions in the public and private sector.

–30–

For more information, contact:

Edward Downing, Director of Communications

[Liquidnails]

The standard BC Liberal strategy: Offer a budget that is "balanced" by selling off irrecoverable crown assets.

[flamingfingers]

...Essentially, they (the BC Liberals are) taking cheques to the bank before they’re even written.

Respected economist Don Drummond wrote a report for the Ontario government that addressed the issue of asset sales. He advised, “do not count chickens before they are hatched. If assets are to be sold, never incorporate any revenue from such planned sales into a budget before the fact.”

But that’s exactly what the Liberals have done....

[Urbane]

As far as the budget is concerned, it has withstood the scrutiny of BC's CGA Association. That's an endorsement very few governments EVER get.

This budget isn't particularly good news for the NDP. A balanced budget that has the endorsement of BC's CGA Association is good news for the rest of us though.

[flamingfingers]

"Balanced budget" by selling off assets? What kind of thinking is that?

[Gone_Fishin]

...Essentially, they (the BC Liberals are) taking cheques to the bank before they’re even written.

Respected economist Don Drummond wrote a report for the Ontario government that addressed the issue of asset sales. He advised, “do not count chickens before they are hatched. If assets are to be sold, never incorporate any revenue from such planned sales into a budget before the fact.”

But that’s exactly what the Liberals have done....

Bruce Ralston is the B.C. New Democrat finance critic.


Here, let me add the author's name to your tidbit, so that he gets credit and the quote can be taken in context.

Just an oversight, I'm sure.