It used to be said of the New Democrats (when they were in government during the 1990s), that, such was their lack of business and financial expertise, they couldn't run a lemonade stand.
Sadly, with Gordon Campbell and his BC Liberals, British Columbia today has a government whose fiscal acumen is so abysmal, so evidently lacking, that they appear incapable of operating any business enterprise of any size.
It must be said that after eight years of manifest incompetence no further proof is required to prove the point, but the budget for fiscal 2010/11 definitively illustrates that this gang is fiscally clueless.
Consider two components of the budget unveiled yesterday by Finance Minister Colin Hansen. Keep in mind that B.C. is in the early stages of a series of sizeable deficits, with the government committed to balancing the province's books at the earliest opportunity.
Why, then, would Hansen willingly surrender tens of millions of dollars in annual revenues in taxes on the country's largest and most-profitable financial institutions?
Moreover, why would he knowingly incur tens of millions of dollars in unnecessary interest charges by deferring federal transfers?
As unbelievable as it seems, it's true. A careful reading of today's budget plan reveals at least two eyebrow-raising policy decisions taken by the Campbell Liberal government.
Unfortunately, those decisions will dearly cost B.C. taxpayers.Read the Entire article on The Tyee HERE