BC headed to 3 billion plus deficit!
Originally published at Queerthoughts
Yeppers, you read that right. Colin Hansen, BC's Robber Minister went into an election knowing the Province's projected deficit of $495 million was way out to lunch, yet he repeatedly said that the number was good.
Seems the deficit number was good for one thing only, the re-election of Gordon Campbell and his team of con artists. We don't have all the numbers yet but it won't be long before we do. A new budget is coming down in a few weeks.
We know now that Hansen must have known the budget target was not going to be met because Welfare numbers were soaring. In fact welfare numbers were going so high, the public relations Bureau (read govt PR hacks) told Social Services it could not post welfare numbers until after the election. That's bad news on two fronts. First the province is paying out more money and second the province is not getting any tax revenue from the people it is paying welfare too.
Next we have The Robber Minister telling the media today that income tax revenue is down a billion and royalties and stumpage are down another billion give or take a couple 100 million. Add to that the 400 million spent on Forest fires and we easily have a 3 billion plus deficit.
Then there are the Olympic costs that we haven't seen yet. Surely they will come in way over budget. The Vancouver Trade and Convention Centre expansion has come in at double the original cost estimates. All I can say is that its a good thing these Liberals can mange money so well. Imagine what it would be like if they were worse at it than they tell us they are?
Now the fun stuff. It seems Robber Minister got a call from the big Robber Minister in Ottawa right after the election. The Ottawa Robber Minister had the BC Robber Minister over the barrel. See, Ottawa knew BC was in big financial doo-doo. So according to Gordon Campbell Ottawa said, "Hey BC, here is 1.5 billion buckaroos (that's what Harper calls dollars), bet you can use that right now." Harper was right of course and the deal was so easy, all BC had to do was sign onto a new tax.
You know most of the story after that. The HST is coming as a result of either a quick urgent decision that would not allow for public consultations and or the result of outright lying during the election. The BC Campbell Libcons in their effort to "Keep BC Strong" brought in a big new tax on the spur of the moment or they negotiated it for some time and felt voters didn't need to bother with it until after they voted.
BC, guess what?
You have been
Hoodwinked, Sucker-punched and Tattooed.
NO BC HST
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