Two business economists say taxpayers are facing a period of austerity in the near future no matter who wins this Saturday
Voters can now stack the three parties’ platforms side-by-side-side for comparison, following the release Tuesday of the Conservatives’ 100-page outline of where they would take B.C.
During the campaign, the fiscal picture is a no go zone for the NDP campaign. The only time it gets raised is in the context of “not a problem.” “The increasingly parlous state of the province’s public finances points to a period of fiscal austerity in the years ahead. This painful prospect has been studiously ignored by the political parties in the election,” said the economists.
Leader John Rustad said their costing shows they can eliminate the current $9 billion yearly operating deficit in two terms — between five and eight years. It promises a “reallocation of wasteful spending to priority areas…” and commits to a “core review” of government spending by way of a “taxpayer respect audit.”
Separate from the operating budget, the government is spending $20 billion a year on capital projects. Rustad wants a full review of the capital-spending plan to cut costs that arise from the NDP’s “closed shop” approach to labour contracts.
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