Misleading provincial budgets

Jack Mintz, the chair of the School of Public Policy at the University of Calgary, wrote an article on how provinces fudge their budgets.

Jack Mintz, the chair of the School of Public Policy at the University of Calgary, wrote an article recently on how provinces fudge their budgets. And the press are buying it wholesale.

The Quebec budget and the B.C. budget are hailed as balanced. Alberta is said to be balanced by using some reserve funds to bridge the gap.

But these are not the full budgets of those provinces. They are the operating budgets only. And all provincial budgets involve both operating and capital budgets.

In B.C.’s case, the operating part has a surplus of $879 million. But the capital is $9.8 billion, all borrowed. So, in actual fact, there is a deficit of (rounding) $9 billion.

In other words, B.C. is spending $9 billion in 2015 more than it is taking in revenues.

Brian PeckfordQualicum Beach

Just Posted

Parksville Qualicum Beach legions set to launch Poppy Campaign

Annual fundraiser to run from Oct. 25 to Nov. 11

Bear sightings up significantly in Parksville Qualicum Beach area

Fruit trees number one food attractant, says conservation officer

Parksville Qualicum Beach crime report: Thieves pilfer laptops, tools, big-screen TV, cash and more

Oceanside RCMP received 256 complaints between Sept. 29 and Oct. 5.

Qualicum Bay writer Linda Tenney dies after battle with cancer

Celebration of life set for Nov. 2 at Lighthouse Community Centre

Pole-climbing thieves pilfering wire in Parksville Qualicum Beach area

Repairs are costly and thefts jeopardize public safety

Second young woman dies after rollover crash near Williams Lake

‘Someone’s going to get her heart, which is awesome, because she has the best heart in the world’

Google searches for ‘how to vote’ surge on Election Day

Interest spikes despite social media campaign by Elections Canada

Union says Western Forest Products refuses to budge from ‘unreasonable concessions’

According to a press release, both parties met on Oct. 16, 18, 19, and 20.

Alberta man pleads guilty, fined for hunting without a licence in North Island

It’s the responsibility of each hunter or angler to know whether they are considered a B.C. Resident.

B.C. mayor apologizes for removal of Queen’s portrait from council chambers

‘I prefer to be inclusive of the many aspects of our history’

Environment Canada issues gale warnings for western Vancouver Island

Gale warnings in effect for most of Vancouver Island and west coast Mainland

Report suggests new BC Ferries terminal near YVR

Metro Vancouver currently has two ferry terminals at northern and southern reaches

B.C. woman must pay $1,000 after unleashed dog bites another

Owner should never have left Bibi unattended, tribunal member wrote

Most Read