Skip to main content

“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

PECKFORD -- Can BC ‘s Economic Plan Be Believed? When You Misrepresent The Deficit, Can 36 Pages of Goggly Gook Be credible?


The BC government is in a rush. Never let a tragedy go to waste; especially something like the Wuhan virus. 

A new, really, not so new, BC’s Economic Recover Plan of thirty-six pages has been released to the Public.

Something for everyone; but can it be believed? 

Just a few days ago the Public Accounts of the province for the year 2019/2020 were presented. And true to form, with past financial accounts, the government disguised the financial picture of the Province.

It continues to mischaracterize the budget — past years it was showing a surplus when there was a deficit. Now it is showing a modest deficit when there is a huge deficit. 

You see, just about everyone on this left coast has bought into the government’s notion that a budget is just the operating account. 

It is not!!

The budget is the operating account, and the capital account. The federal government acknowledges this reality, and budgets itself accordingly. 

So, many surpluses of the past were deficits -- and the deficit of this past year is much MUCH larger than advertised. 

The Public Accounts shows an operating deficit of $321 million for 2019/2020. Then the taxpayer supported capital spending is recorded as $4,772 billion. 

That gives a total of $5,093 Billion ... $4.772 billion plus the additional $321 million. 

THAT IS THE DEFICIT for budget year 2019/2020.  We, through the provincial government, have to borrow this amount. 

But wait ... that’s not all ... there is self supporting debt of the province.

If one of the provincial government entities that is now paying for their debt gets into trouble, the province will have to pick up the tab. And this is $4,294 billion.  

So, the total financial liability of the Province this past year 2019/2020 year is ....

$5,093 billion + $4,294 billion = $9,387 billion.

Meanwhile, the BC Ministry of Finance, in its press release of August 31, announcing the release of the Public Accounts for 2019/2020, stated: 

The fiscal year ended with a deficit of $321 million ..."

So — do you think I believe the BC Economic Recovery Plan? 


Popular posts from this blog

The stats clearly demonstrate the need for professional and impartial advice at the time of purchase, renewal, and refinancing of mortgages

REPRINTED WITH PERMISSION : Canadian Mortgage Trends   Canadians need guidance with their mortgages ... t hat’s the takeaway from a national survey released this week by, which found half of Canadians aren’t aware of the mortgage options available to them. Not only that, but Canadians are lacking in some other basic mortgage trivia, with an astounding 9 out of 10 respondents not knowing that mortgage interest is charged semi-annually: 28% think interest is compounded monthly; 17% think it’s bi-weekly; 17% think it’s annually; 28% just have no idea. Should we be concerned? Dustan Woodhouse, President of Mortgage Architects, and a former active broker who has written multiple educational mortgage books, thinks so. “ Sounds about right. We know about what we pay attention to, i.e., The Kardashians ,” he wrote to CMT. “ The material concern in this is how easy it makes it for the government to over-regulate the industry, with c

THE SIDEWINDER -- Just quit your constant damned whining and do something positive about it

  Living in a democracy is a wonderful thing, but it comes with responsibilities such as voting and being involved. When the dust settled on Saturdays (October 24 th ) BC election, less than two thirds of the eligible voters * took the time to vote - but the loudest bitchers will probably be among the more than one third of voters who sat on their asses and complained about how all politicians are crooks, etc. How many of you constant whiners have ever done anything close to becoming involved; or do you just like sniveling to hear your own voice? Are you one the arseholes who likes to take advantage of everything our democracy has to offer, without ever contributing anything? And I don't want to listen to your crap about paying taxes, blah, blah, blah. There's more to making democracy work than simply voting and then sitting back and let others carry the ball for you. Too many people seem unwilling to get involved - and follow-up - to make sure elected po

AARON GUNN -- He is, at his core, an ideologue, meaning the facts of any particular issue don’t actually matter

Ben Isitt - City Councillor and Regional Director Victoria City Council and its resident-genius Ben Isitt is back with another dumb idea. Introducing a motion to ban the horse-drawn carriages that have coloured Victoria’s downtown streets for decades, calling them “an outdated mode of transportation”. Are you serious?   No one is actually commuting by horse and carriage. They are here for tourists and residents alike to interact with world-class animals and discover the magic and history of our provincial capital. It’s part of what gives Victoria its charm. And the truth is these horses are treated better than anywhere else in the world. They probably live better lives than many British Columbians.   And talk to anyone who works with these horses and they’ll all tell you the exact same thing: this is what the horses love to do. This is what they were bred for and trained for. This is what gives their lives purpose and meaning. But maybe we shouldn’t be su


Show more