Premier David Eby is impatient, pushing through a fast-run agenda, leaving the future to take care of itself.
Provincial Finance Minister Katrine Conroy faced an uphill battle with Tuesday’s budget. At the outset she had to acknowledge how the previous year’s version went wrong.
The impression which emerges is that bottom lines and financial targets are not a strong point of this government. More of that in a moment. There is of course a price to be paid for this additional spending. Conroy forecasts a deficit this year of $4.2 billion, $3.8 billion next year, and $3 billion in year three.
Over the same period the economy grew by only 15 per cent, and the province’s population by around six per cent. Nevertheless growth of this sort, if allowed to continue unchecked, represents a challenge to long-term sustainability. Governments traditionally economize in mid-term budgets, then splurge as they approach the campaign. But with $8 billion in deficits already forecast for the next two years, where would a pre-election binge leave us?
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