Opinion

Why Silence on B.C.'s Groaning Debt?

Nobody seems to want to mention the fast growing $38 billion elephant in our living room. Each of us owes $9,003, sharply up under the Liberals.

By Will McMartin, 9 Aug 2004, TheTyee.ca

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The burden of provincial-government debt on every man, woman and child in British Columbia has grown by $682 in the three short years since Gordon Campbell and the B.C. Liberals took office.

Each individual British Columbian -- and there are more than 4.1 million of us -- now is on the hook for $9,003 borrowed by Victoria and various Crown corporations and agencies.

This is up 8.2 per cent from the $8,321 owed in 2001 when Campbell's Liberals defeated the former New Democratic Party government.

These figures, and many more, were made public at the end of June when the public accounts for fiscal year 2003-04 were released in Victoria.

But the debt figures received little or no notice from the news media, the punditocracy or opposition politicians.

Used to be a big NDP sin

The paucity of comment is in stark contrast to the 1990s when the NDP was in government.

Then, nearly every rise in the province's debt sparked vitriolic diatribes by newspaper editorialists, open-line radio hosts, the business community, as well as the former legislative opposition, the B.C. Liberals.

This go-round nary a peep on the debt has emanated from the legislative press gallery. Newspaper editorial-writers have turned elsewhere to vent their spleens. Phone boards at talk-radio stations have been silent on the issue. Captains of industry are mute.

The NDP, in opposition, also seems unwilling to press the Campbell government on British Columbia's soaring debt.

Instead, recent NDP news releases have focussed on the B.C. Liberals' transportation policies, and specifically the RAV-line. Organized labour similarly has taken a pass.

Klein's Alberta a sharp contrast

Not until mid-July, when Ralph Klein's government declared itself debt-free, did B.C.'s level of indebtedness garner a cursory mention -- along with every other Canadian province and territory -- by way of an unfavourable comparison to nirvana-like Alberta.

The fiscal picture darkens when the debt of profitable Crown corporations is excluded. (This is called 'self-supported debt,' because commercial Crowns such as B.C. Hydro and B.C. Rail are responsible for their own debt-repayments and interest-charges, not B.C. taxpayers.)

The financial obligations for which B.C. taxpayers are solely liable -- the 'taxpayer-supported' debt -- has grown by a whopping $965 per capita since 2001, and now stands at $7,137. This represents an increase of 15.6 per cent, a growth-rate nearly twice as fast as that of the total debt.

The documents reveal that British Columbia's total debt was in excess of $37.3 billion on March 31, 2004, the date that marks the end of the most-recent fiscal period. By comparison, when the B.C. Liberals took office in 2001, the total provincial debt stood at $33.6 billion.

'Politicization of debt'

How to explain the current lack of concern for British Columbia's growing debt obligations? Sad to say, it's all politics. Call it 'the politicization of the debt,' if you will.

Like most left-of-centre governments, the NDP administrations of 1991-2001 were vulnerable to charges of fiscal incompetence. Consequently, the growth of B.C.'s public debt was seen by critics as tangible proof of NDP mismanagement. Political opponents found it useful to use each reported debt-increase as a stick to beat the beleaguered government.

At the same time the New Democrats seemed to acknowledge their critics' complaints, repeatedly vowing to reduce and eventually eliminate annual deficits. The NDP even went so far as to initiate an annual 'Debt Management' report to disclose the extent of B.C.'s indebtedness and the government's purported success in reducing its growth.

Still, many observers thought the NDP commitment to low public debt and balanced budgets was half-hearted. Their public image seemed fixed, and not even a record-breaking surplus, paying for a half-billion dollar reduction in B.C.'s debt on the eve of the 2001 general election, could prevent a defeat of historic proportions.

Today's opposition New Democrats may think it would be unseemly to criticize expansion of the public debt while at the same time castigating the Liberals for hospital and school closures, contract-breaking and imposed settlements on public sector unions, cutbacks to social assistance, and more.

Where's the business community?

The 2003-04 public accounts show that in 2001, taxpayer-supported debt was 19 per cent of B.C.'s gross domestic product; at March 31 of this year, it had climbed to 20.8 per cent. Thus today it seems inconsistent for the business community, once fierce in its denunciations of NDP fiscal performance, to appear blithely unconcerned by the manifest deterioration of B.C.'s public finances.

The truth is that public discourse on British Columbia's public finances is largely, if not entirely, political. Right-wingers reflexively criticize left-of-centre administrations for their fiscal incompetence, while left-wingers focus their critiques of right-of-centre governments over penny-pinching social policies and a lack of compassion for the disadvantaged.

A review of the growth of British Columbia's growth in public debt reveals that it is largely non-ideological. That it not to say that governments of the left or right are better or worse at managing public finances, but that the provincial debt has steadily increased regardless of the party in power.

B.C. debt: A brief history

One of the central reasons British Columbia joined Confederation in 1871 was because Canada was willing to assume our entire colonial debt. In excess of one million dollars, it posed a challenging burden for the approximately 10,000 whites, 2,000 Chinese, and 28,000 Indians or more who comprised British Columbia's population.

(The debt was incurred mostly for construction of the Cariboo Wagon Road, which linked the goldfields at Barkerville to Yale. From Yale, steamboats ran down the Fraser River to New Westminster and across the Strait of Georgia to Victoria, and south to San Francisco.)

Debt-free ever so briefly following our admission to Canada, British Columbia quickly began borrowing monies to cover the yearly shortfalls between provincial revenues and expenditures. In 1874, three years after entering Confederation, the new province's net debt totalled more than $189,000. By 1888 it had surpassed $1 million, and in 1895, $5 million.

In 1903, the year that political parties first made their appearance in provincial politics, B.C.'s net debt exceeded $10 million. Thereafter governments of varying stripes contributed to British Columbia's mounting debt: the Conservatives, elected in 1903, left office in 1916 with the net debt close to $18 million; when their successors, the Liberals, were defeated in 1928, that figure had climbed to more than $85 million.

Returned to government in 1928, the Conservatives were overwhelmed by the Great Depression and defeated by

voters in 1933 with the province's net debt totalling $131 million. The newly-restored Liberal administration rode out the balance of the Depression before making way in 1941 for a Liberal-Conservative Coalition; at that time the province's net debt was $148 million.

After declining for a few brief years during the Second World War, B.C.'s debt exploded in the expansionary post-war period. By 1952, when the Liberal-Conservative Coalition was succeeded by a new Social Credit government, the province's net debt had sky-rocketed to $222 million.

W.A.C. Bennett's hucksterism

Seven years after taking office, premier W.A.C. Bennett held a well-publicized bond-burning ceremony on Lake Okanagan at Kelowna to celebrate B.C.'s freedom from debt. The festivities were a sham, however; Bennett merely had shifted Victoria's financial obligations to newly-created Crown corporations and other government agencies as 'contingent liabilities.'

Bennett sought two objectives with his 1959 huckersterism: first, to gain voter approval for Socred fiscal policies; and, second, to shield the fact that B.C. was borrowing enormous amounts of money to finance massive infrastructure development (highways, tunnels, bridges, schools and hospitals). In 1960, B.C.'s official net debt was recorded as 'zero', but contingent liabilities stood in excess of $555 million.

By the mid-1960s, B.C.'s contingent liabilities had surpassed the $1 billion mark, and in 1972, when W.A.C. Bennett's Socreds were defeated after two decades in government, British Columbia owed more than $2.7 billion. Led by Dave Barrett, B.C.'s first New Democratic Party government lasted a single term, and left office with the debt close to $4.5 billion.

Recent NDP nearly doubled debt

Returned to government under Bill Bennett, W.A.C.'s son, Social Credit politicians blasted the NDP for fiscal incompetence and promised strict economy. Yet B.C.'s debt roared past the $10 billion mark in 1982, and exceeded $17 billion when Bill Bennett's successor, Bill Vander Zalm, resigned his office in disgrace in 1991.

Under the NDP governments of the 1990s, led first by Mike Harcourt, later by Glen Clark and lastly by Ujjal Dosanjh, British Columbia's debt nearly doubled to more than $33 billion.

From 'zero' in 1871, British Columbia's debt today exceeds $37.3 billion. Since the arrival of party politics in B.C. a century ago, not a single government -- Conservative, Liberal, Social Credit, or NDP -- has left office with the provincial debt lower than when it first took power.

This historic fact does little to discourage B.C. politicians from vowing to be fiscally prudent, and even making vague promises to 'reduce the debt.' Recently, NDP leader Carole James attended a meeting with the Coalition of B.C. Businesses, and in response to a question concerning debt-reduction she replied: "Every year there will be a balanced budget."

Sure.

Headed for $40 billion

Meanwhile, free from criticism by the news media, business community or political opposition, Gordon Campbell and his Liberals repeatedly extol their alleged 'success' in managing B.C.'s finances. Despite reams of statistical evidence to the contrary, these assertions largely go unchallenged.

In May 2005, eight months from now, B.C. voters will go to the polls in a general election. Not long thereafter, regardless of which party wins the contest, B.C.'s debt will surpass the $40 billion mark.

Will McMartin is a political analyst and consultant who will be contributing columns to The Tyee.
   [Tyee]

34  Comments:

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  • Jay Currie (not verified)

    7 years ago

    Excellent article! No question that none of the political parties or business/labour see much percentage in taking the government of the day to task for running up debt.

    There is, of course, a reasonable question about the absolute amount of the debt. There are also a series of questions about what the debt has been used for.

    Government debt, like personal debt, is not always a bad thing if it is being used to purchase long term assets (houses/cars for individuals, schools/hospitals/roads for governments) but it is scary if the debt is being run up to pay for the groceries.

    Similarily, how much debt a person or goverment can hadle is a function of their ability to service that debt and that, in turn, is a function of their income and the certainty of that income.

    At this point the question of whether or not the Liberals have taken on too much debt will depend on the rate at which government revenues increase (or decrease). If the BC economy expands faster than its current rather anemic rate the current debt levels will be no big deal. But any economic set back and we will have to fight to make the payments.

    The Alberta situation is somewhat different in that the debt was incurred in the sure knowledge that there would be big oil revenue for the two decades it took to pay it off. Now that it is paid off and the oil revenues are likely to continue, Alberta is well on its way to having the healthiest, most vibrant economy in Canada. Fairly quickly Klein is likely to increase social and health spending and continue to trim tax rates.

  • BuN (not verified)

    7 years ago

    A good article with welcome background facts. Space could have been saved by forgoing the discussion on the bland hypocrisy of the business community and their assorted hangers-on. That is to be expected. A little more exposition into same hypocrisy shown by the _journalists_, who claim to be otherwise, would have been nice. A minor quibble. All in all, good work Mr. McMartin. I'll be keeping this handy for the next election.

  • allan (not verified)

    7 years ago

    Good article and it raises a serious concern about media in this province that has been bothering me no little of late. Specifically, my concern is over CBC radio's declining involvement in covering such issues. I still prefer the Mother Corp.'s efforts over the spin of our friends in the private sector. But in the past couple of years CBC appears to have stopped doing the digging and is more or less mirroring the pap the private guys are offering. This is quite disturbing, because CBC certainly was as aggressive as the Sun, Province, BCTV and Global in clobbering the Clark regime into submission several years ago. Perhaps CBC news staff should ban copies of the private media material from their story weekly story meetings so that a little more original thought seeps across the airwaves. (Note to Jay) I think you touched a nerve with your comments on running up the debt to pay for the groceries. The liberals seem ready to do exactly that as they pump funds into school, hospitals and (maybe) even womens' centres in a pathetic effort to get us to forget about drunk drivers, fishy aquiculture deals, failed highways privatization schemes, railway giveaways and tax gifts to the rich before May 2005. Has anyone checked lately to see if our provincial highway bridges haven't been sold off?

  • john ransom (not verified)

    7 years ago

    The highest debt, the worst performing economy in the country, all ignored again and again, along with vast understatement of all the damage done to future taxpayers by guving away assetts that once kept taxes low, like bc rail, -the only thing the bc liars are about is rewriting the social contract and rewriting every one but their owners out -let's make canwest media monopoly political manipulations an issue in the next federal election. Canwest tried to ram stephen harper down our throats and will do the same with gordon liar.

  • Janet (not verified)

    7 years ago

    Very enlightening. After all the belt-tightening and sacrifices that BCers have had to make for the purpose, we were told, of decreasing the debt only to find the debt wildly increased. No wonder the Liberals are quiet about it. But, why the media? Interesting too, that while the profit-making Crowns were being sold off the media didn't touch that subject either, as Allan says, particularly the CBC. And, now, the silence of the Social Democrats. Mysteriouser and mysteriouser.

  • anne cameron (not verified)

    7 years ago

    Just about enough to make a person think of words like Collusion and Pay Off and Censorship... the silence of the news media isn't really surprising, there has been such biased "reporting" in the past...the near slander aimed at the NDP...the cow cack about how "useless" the fast cats were...and if you think we are all deeply in debt now wait until we have to pay for the Olympic madness...the Libs will try to make out like there will be "long term benefit" from the Olympic construction but that will be eyewash, the decisions around the highway access to Whistler is a case in point... when the Olympic crowds have gone home all that money will have been spent so the wealthier among us can race their expensive cars up to the ski slopes. The rest of us will continue to contend with deteriorating roads. The eunachs in the media didn't even tell us BC Ferries was being "privatized" until after the fact... but what more to expect when those who sit on the board of directors of the various media also sit on the boards of directors of the corporations... and they say it isn't "conflict of interest"... oh yeah, sure, right, and we all believe that... Dust off the CCF Manifesto!! Give us a truly LEFT choice. When the NDP hi-jacked the CCF and changed the name they said they were moving to a more centralist position..they've gone so central they're damned near in the Right...and we need to get back to some sane socialism

  • lynn smyth (not verified)

    7 years ago

    Great article, Will McMartin. No doubt that the mainstream media has been Campbell's biggest ally but I think the interesting point you make is how strong "image creation" (through advertising and that same media control no doubt) plays a role in the public's disinterest and acceptance of what is becoming a monstrous debt. They perceive the BCliberals as better at business despite the facts painting a very, very, different picture. Just as "the record breaking surplus" you refer to could not save the NDP in the last election also because of an image painted contrary to the facts. Perception is powerful but it can develop clay feet and topple - right now you have a very disillusioned public in BC, especially in the rural areas. I suggest the NDP hire town criers to announce the daily growing debt if someone does not speak up soon, she said only somewhat facetiously.

    If ever increasing debt goes with the cynical political territory we inhabit then the public will have to decide if they want debt that provides us with needed services, hospitals, and schools, or debt that funds private companies and wealthy investors. My personal feeling is that we have landed here because of a lack of imagination and real desire in all political directions for a new way to live our lives.

  • OhSullivan (not verified)

    7 years ago

  • OhSullivan (not verified)

    7 years ago

    Thanks for an great article. It reinforced my belief that the bankers run the show on this planet. They benefit the most from our indebtedness, public or private. If we each owe over $9k through the government debt, and you tack on how much the average British Columbian owes in mortgage interest and credit card debt it is easy to see why bank profits are so obscene. Like the song says....'squeeze me baby - til the juice runs down my leg'

  • MN (not verified)

    7 years ago

    Interesting, but your article seems a little disingenuous to me. Debt is the sum total of accumulated deficits or shortfalls in the annual budgets, and given the fact that the Liberals say they'll only start to balance the annual budget in 2004-05, it only stands to reason that the debt would have continued to rise since they took office. It is kind of convenient (Gordon Campbell called it an oversight) that the election will be held before we'll know for sure if they'll have lived up to their promise to balance the budget by 2004-05, but at least they've switched the government over to Generally-Accepted Accounting Principles. Besides, if they started balancing the budget starting in year one, there would be endless stories about the fallout cause by the drop in services -- tax cut or no tax cut. Yes, the debt is up under the Liberals, but I think the odds are pretty good it will have stabilized by this time next year and likely amount to a smaller percentage of B.C.'s gross domestic product.

  • Burgess (not verified)

    7 years ago

    Voodoo Economics wins the day. Let's see the NDP increased the Debt by 13billion in 10 years. HMMMM! The cambell liberals $4 billion in three years to the Provincial debt. If they are in power for 10 years and at the present rate will they not add $13 billion as well to our children's mortgage? (3 time 4 equals 12 plus one extra year.) If Alberta is debt free how come Stettler Alberta still has a civic and school debt guaranteed by the province? How about Calgary and Edmonton as well? Voodoo Economics I guess. It is very tiring being lied to by governments of all stripes. The cambell liberals seem to have cornered the market on mendacity, prevarication and just plain lieing. The sooner the liberals stage a palace coup the better off the province will be. A province can't be run by a small cabal from the office of a control freak. An excellent article Will.

  • marcia (not verified)

    7 years ago

    Debt is a burden we all carry. Singularly Klein wrestled it to the ground - after inheriting an uncalled mess of potage. BC, all politicans aside, could be free of debt it they were allowed to harvest the gas and oil, as freely as Alberta did. What was the TRUE debt assumed in 2001 by the BC liberal party?

  • Lutz (not verified)

    7 years ago

    Great piece Mr McMartin. There are two refinements I would like to see. 1) The debt in "real terms". 2) The debt expressed as a percentage of the size of BC's economy. Unfortunately both are not easy to arrive at (if it is possible at all) partly because of the so-called index number problem, i.e. the choice of base years for the deflator. (Different choices would give different results.) But even in an approximate way these 'refined' figures would make the totals more meaningful. This is not really meant to be a criticism of your excellent article.

  • Ruth McVeigh (not verified)

    7 years ago

    Excellent article -- with one caveat: brevity is the soul of ... getting people to read it! It is absolutely essential that the NDP utilize those media people who support them (and there are some) and it is extremely important that the finances be audited and the results published, just as soon as we win the next election. No delay. In addition, the Party must clearly outline what they can and cannot do, not raising expectations too high and above all, sticking to what they say.

  • vick (not verified)

    7 years ago

    Marcia klein did not save alberta the american oil companies saved kleins ass in return for owning the oil rights in alberta. The oil companies that own the tar sands are u.s. the contractors building the projects are mostly u.s. owned and based including halliburton of bush chaney fame so alberta may or may not be debt free but they sold the house to pay the debt, what are they really bragging about. Klein says you can't afford medicare but he can afford to give every man woman child and business a rebate on electricity after selling the public owned power plants to his corporate friends who quickly started gouging, this had the potential to cost klein the election so he paid everyone off with taxpayers money.If it wasn't so dam tragic it would be funny how gullible people are!

  • Jay Currie (not verified)

    7 years ago

    The absence of coverage of the debt issue in the mainstream media probably has as much to do with the near total absence of intelligent economic commentary as any attempt to censor the news.

    Editors have been convinced that the job of newspapers is to become more like television stations which means nothing at all as in depth as this article will ever be run.

    For the people who are asking for brevity: there are lots of issues which cannot be dealt with in a sound bite or 640 tight words. The world is a complicated place. Part of the strength of The Tyee is that it will run pieces of this length which really dig into an issue.

    If I have one criticism of the piece it is that there were no links to online material. Tyee can beat the mainstream media a lot of ways and one of them is by encouraging links wherever possible. that way I can go and check out the reasearch....Try doing that with the Province.

  • Kit (not verified)

    7 years ago

    That's what editorials could do as well. "But first", of course, there would actually need to be credible editors, at the Sun and Province.

  • Laughable (not verified)

    7 years ago

    It is an absolute hoot to read the comments at the end of such a diatribe article. No doubt as to the political leanings of 99.9% of the readers of this site. Also that a vast majority seem to believe in some massive conspiracy, none of which would be around if the NDP were still in power. Of course if the NDP were still in power this province would no longer exist as we would all be bankrupt and all investment would have been driven out of the province by the anti-business policies of the NDP. Any businesses still left would have gone under trying to pay the massive salaries demanded by unions supported by government. It is equally interesting how often history is used, often in a very distorted manner to try and prove some political point. I wouls say it would be nice if this site provided articles giving the other view but I guess that is not what this is about, this is merely about liberal bashing, but as I said it makes for a hilarious read.

  • Ron Yamauchi (not verified)

    7 years ago

    I must say it is refreshing though a bit of a head-scratcher to see the right being bashed on the basis of public debt. When I was young and idealistic, the idea of debt was considered to be right-wing cant in and of itself; we correct-thinking people understood it to be more properly thought of as "investment," assuming for the sake of argument that it even existed (for how could The People really owe themselves money??).

  • allan (not verified)

    7 years ago

    Laughable, you certainly are. If you want the other point of view (the one Gordo wants all you fawning neo-Liberals to pay attention to), pick up a copy of the Vancouver Sun or Province. Don't worry, they are quite one-sided so you won't likely suffer through reading much that suggests the NDP would offer something a little better. Frankly, I don't know how they or anyone could be any worse though. Your rant against unions pretty much sums up your attitude. From my understanding unions normally only get to represent workers in specific business when the owners and or managers prove what kind of genuine ass-holes they are. What happened Laughable? Did your loyal workers get enough of your Liberal economics and then go form a union? Now you've got me laughing. Oh well, talk to your Liberal MLA. He/she may offer you a few good tips in getting those workers to decertify. You know, a little fear and intimidation. It works fine, especially when the government agencies that used to facilitate union certifications and collective bargaining now has as its primary mandate assisting employers - oh excuse me, I meant employees to decertify. Hey, if you haven't got the jam to talk to your workers themselves go and hire one of the growing number of sleeze-bag lawyers who make a living feeding on the plight of scared workers. They're easy to find. Just climb out from under your rock and chances are there will be one slithering about near the next rock if the sun's not to hot.

  • vick (not verified)

    7 years ago

    Hey laughable the writer is a former socred and reform supporter he is not left wing. I am not a right winger but I am happy that McMartineis going to be writing for thetyee and look forward to reading his work. People in B.C. that I know are very angry and dissilusioned by gordo the drunk and his style of governing including right wingers with a brain whose single purpose for being alive is not the accumulation of wealth, if you are greedy and of lesser intelligence then he is your man in my opinion.

  • Stuart (not verified)

    7 years ago

    Sometimes I feel like Can west has done a great job of numbing down the Population, Dear Laughable wake up and just look at history for a sec, Right wing Neo Con governments around the world are the worst money managers and are stuck On their ideologies and are very self serving. Hence Brian Mulroney, remember the mess he Left. Mike Harris(6 billion dept) Ronald Regan, ( military budget out of control and drove The economy so far down its still recovering) Margaret Thatcher etc. Hey just look at the US Backed Gov in Argentina , Yes the US Neo Con hero Carlos Menem. 1989 - Carlos Menem wins the 1989 presidential elections on a traditional Peronist platform of rebuilding national industry. Once in power, he takes a hard right turn, imposing what he call “surgery without anaesthetic”. Menem’s policies turn Argentina into the model pupil of the IMF and the World Bank. Almost all national assets are privatized, currency markets are deregulated, and the peso is pegged to the U.S. dollar at one-to-one. While Argentina’s GDP almost doubles, the unemployment rate soars from 6% to 18% as hundreds of thousands of workers are downsized in privatizations. The public debt soars, corruption scandals erupt on a monthly basis, but the IMF and the World Bank continue to lend Argentina tens of billions of dollars. And look at Gordo and the growing dept in BC, there are three ways to make money 1) cheapen labor And worker benefits, bust unions etc. 2) raise the cost of your product(rarely done) 3) be creative And inovative(never done) I love folks like you who parrot can west about the economy etc. Like the Harrisite supporters in Ont. It just takes the right button and enough bleeding before you Get the point . either your kids will pay 40 - 100 % more tuition, or you lost your school Or hospital, or you get downsized because we off shored your job, (BC Ferries etc) Or if Your in west Van with your new P3 super highway planned, can't wait the pay the tolls, or maybe You don't like having a convicted drunk as a premiere, or your parents pay more for Pharma care drugs etc, or if your waited 9 hrs at emergency to see someone. Gordo is on his way Out, if you support him you just have not been affected yet. You will get yours.

  • Dee Hon (not verified)

    7 years ago

    Why do politicians in this province care more about blind adherance to party ideology than about serving the best interests of its citizens? Thanks Will, for this refreshing article. In an age when partisan mudslinging trumps reasoned discourse, commentary by someone willing to look beyond his own party affiliations (in your case Conservative, SoCred and BC Reform) is a welcome rarity.

  • trulib (not verified)

    7 years ago

    We have been governed by ideology driven narrow mindedness positioned at the extreme ends of the political spectrum for over 30 years+. However, it is encouraging that polls have shown that the majority of British Columbians would favor an openminded party in the middle, capable of looking right and left on issues. It's disheartening that in this province especially, it would seem the people at the extremes are the most passionate about entering politics. I would think that there are many ie) Liberal/Small c conservative types capable of getting the ball rolling. We just need one to step forward to end the polarization that has gone on for too long here.

  • CG (not verified)

    7 years ago

    I'm not sure of BC Highway Bridges being sold off yet, but the painting of the Lion's Gate Bridge went to an American Company. It seems that our jobs are definitely for sale. Take a look at BC Hydro - part has been privatised and is now owned by an offshore company, BC Ferries are now a private organisation, and to make matters worse, shipbuilding jobs that were in BC are to be sent off to Europe! MSP is to be sold to a subsidiary of IBM - now we're subject to the Patriot Act - no matter what legislation we pass - once the information leaves our jurisdiction - it is no longer under our control or laws. And in 8 months we are off to the polls again. Who do we elect this time - a Liberal party made up of Liberals, who through their management of the economy accumulated a total debt of $75 Million in 1916-1928 dollars (what would that be worth today?) then amassed $17 million debt from 1933-1941, and now a $4.73 Billion debt. We certainly seem to be paying off a lot of interest on old debts.

  • vick (not verified)

    7 years ago

    Wonder how much of that debt gordo has given to his friends in the form of a tax break that only benefits the rich?

  • trulib (not verified)

    7 years ago

    Ruth McVeigh -I'm puzzled as to why the Tyee hasn't advertised their existence in the Sun and Province???

  • Dear Tyee Editor (not verified)

    7 years ago

    Could we please have a piece setting out the details of the multiplier effect of a BC paycheque vs. a paycheck in Europe or someplace, when the money comes from BC taxpayers? You know, the taxes recovered from the workers, the benefits to local businesses and families and the taxes they pay. And so on and so forth. Seems to me there was a lot of studies done about that stuff over the last few decades. Please?

  • DaBoss (not verified)

    7 years ago

    Gary Collins proudly trumpeted that B.C. has a balanced budget and on the path of being a "Have" province and part of the surplus will be used to reduce the $37.2 billion provincial debt. Wayne Strelioff, our Auditor General, just announced this week(November 24) that the provincial debt is actually $39.4 billion and B.C. is actually not doing well economically. So if B.C. was an economic failure for 3 1/2 years under the Liberals, how did they produce the surplus? Answer: By selling part of B.C. Hydro, B.C Ferries, B.C. Rail, MSP, etc. and the rest is you guessed it: by borrowing. There is no other explanation that can be deduced from their economic strategy because their tax cuts for the rich is eating more revenue than they can save. Gambling which was condemned by Gordon Campbell "the genetic liar" will generate more revenue in the future but the social cost will be difficult to manage. We should not re-elect liars.

  • unknown (not verified)

    7 years ago

    this site needs more info

  • -_- (not verified)

    7 years ago

    more info less comment

  • Anonymous

    6 years ago

    so who do we vote for and why?

  • Anonymous

    6 years ago

    so who do we vote for and why?

  • nobody (not verified)

    6 years ago

    so who do we vote for?

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