Finance Minister Carole James provided a bit of a Financial update for the province on Tuesday, with Ms. James generally noting that the first quarterly results confirm the solid footing that the province is on as they begin the process of crafting the next NDP government budget.
“Over the past two years, we have shown that putting people first is good for the economy and good for our province. We will continue to monitor and adapt to global economic volatility and trade uncertainty, but our plan is working, and our economy is resilient. By investing in the people who power our province, we are building a more sustainable economy that will pay dividends for years to come.”
Among the notes from the September overview was how the government’s first-quarter forecast demonstrates that B.C. is on solid fiscal footing, and will be an economic leader in Canada despite a changing and more volatile global economic environment.
However, it also highlighted how ICBC remains a significant risk to the Province’s finances, and that the government remains committed to getting ICBC back on a solid fiscal track.
The presentation also observed how the Province's Surplus has decreased by 95 million dollars while total provincial revenues have decreased by $153 million, with larges hit coming from areas related to the Property Transfer Tax.
When it comes to the risks facing the BC economy three of the main risk areas involve the impact of global uncertainty on trade and commodity prices
You can review two streams of information related to the Ministers overview of Tuesday
Copies of Current and Past Quarterly Reports
First Quarterly Report Presentation
More on Tuesday's overview can be found here.
For further background on Provincial issues see our Legislature Archive page.
Our Political blog D'Arcy McGee also has some background on the Finance Minister's presentation, you can access that from our Victoria Viewpoints page.
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