More of BC Liberals Debt Future BC Plan Revealed

[world2change]

$3.5 Billion unnecessary and unwanted Massey Bridge project will actually cost $8 Billion. I wonder what the real cost of the equally unnecessary Site C make work LNG backup project will be.

Debt free BC? Sure if you create accounts and corporations to funnel the debt to. The taxpayer is the ratepayer it's time to end this shameful politics.

http://vancouversun.com/news/local-news ... on-project #bcelxn17 #bcpoli

[Hassel99]

I hope you realize this is a pretty big NDP gaffe.




http://www.cbc.ca/news/canada/british-c ... -1.4102339

It's shocking that the B.C. NDP — a party that wants to be trusted with the province's finances — has such a fundamental lack of understanding of how financing works,"

BC economics professor Kevin Milligan agrees that simply adding future interest payments to the cost of the project distorts the cost for taxpayers because of inflation and other economic effects.

"That's not how we do financial analysis. You don't add up all the interest costs over a long time period," said Milligan.

Nevertheless, Milligan says, in general, the principle of financing costly infrastructure projects by taking on debt is a reasonable approach.

"I think that this is a very standard approach to building infrastructure, where you take on some debt, and you pay off that debt over a long time frame, because you get a benefit over the long term."

Example.
buy a house for $500,000
25 year $400,000 mortgage at 3%
Pay $167,808 in interest to the bank over 25 years.

You still bought the house for $500,000 not $667,808.




NDP just showed they have no idea how to run a government, a business, or even a household.

They do not understand finance or even basic accounting.

[maryjane48]

good thing you arnt controlling purse strings . you seem to be under the impression intrest is a fantasy or something .

if you use a credit card do you reay think your only paying the principal ? lol

[lasnomadas]

Interesting how the BC Liberal supporters try to justify their party's outrageous boondoggles by cherry-picking quotes from a CBC news item. I guess I should give them credit for tenacity. They're like a scrappy little terrier with a bone when someone tries to take it away from him.

[GoStumpy]

I like how you, and I guess the NDP, decide if the project is unwanted and unnecessary.

Do you drive the Massey Tunnel?

It is very necessary.
Reasons for the bridge:

The Liberals call the Massey “B.C.’s worst bottleneck” and have advocated for replacement because they say the tunnel is seismically unsound and difficult for emergency responders to access.

Reasons against the bridge:

The mayors said last summer that they opposed the project because of its cumulative regional impacts and ongoing concerns about an inadequate stakeholder input process and insufficient access to technical information.

I see who is willing to GET THINGS DONE, and who wants to END THINGS GETTING DONE.

I know who I'm voting for

[lasnomadas]

It's really mindboggling to find out there are still some British Columbians that believe all those whoppers Christy tells while she's on the campaign trail. You'd think they would have learned something from the 2013 campaign.

The Massey Tunnel is far from being the worst bottleneck in B.C., and it's no more seismically unsound than other infrastructure in the lower mainland. Christy has put British Columbians in the poorhouse with all her selfish decisions over the past 6 years, and it's going to take the next government years to straighten out the financial mess she's leaving behind.

That AdvantageBC cover-up needs to be addressed as well. Only 300 jobs of the 13,000 predicted have actually been created. Another black eye for a government that cares only about big business, and to hell with B.C. taxpayers.

[Urbane]

Christy has put British Columbians in the poorhouse with all her selfish decisions over the past 6 years, and it's going to take the next government years to straighten out the financial mess she's leaving behind.

That would be a good point if it were true but it's not true. From the Globe and Mail editorial endorsing the Liberals:

The provincial unemployment rate? Canada’s lowest. Economic growth? Tops in the country, two years running. The Liberals didn’t cause this, but at least they didn’t get in the way. A low hurdle, sure, but one many governments can’t clear.

The budget? Balanced. Debt? Low and stable. It’s at half the level or less of provinces east of Saskatchewan.
http://www.theglobeandmail.com/opinion/ ... e34906441/

It's easy to just keep spewing "the sky is falling" rhetoric but it doesn't hold up to scrutiny. Good try though.

[rustled]

Christy has put British Columbians in the poorhouse with all her selfish decisions over the past 6 years, and it's going to take the next government years to straighten out the financial mess she's leaving behind.

That would be a good point if it were true but it's not true. From the Globe and Mail editorial endorsing the Liberals:

The provincial unemployment rate? Canada’s lowest. Economic growth? Tops in the country, two years running. The Liberals didn’t cause this, but at least they didn’t get in the way. A low hurdle, sure, but one many governments can’t clear.

The budget? Balanced. Debt? Low and stable. It’s at half the level or less of provinces east of Saskatchewan.
http://www.theglobeandmail.com/opinion/ ... e34906441/

It's easy to just keep spewing "the sky is falling" rhetoric but it doesn't hold up to scrutiny. Good try though.

I've bolded the primary reason I won't vote NDP. It's obvious Horgan's policies can't clear that one. Meanwhile, his coy refusal to tell us what his sparkly promises will cost us speaks volumes about how much higher our tax burden will be.