BC Finance Minister Brenda Bailey borrows from 2009-era accounting tactics to patch holes in a $10.9B deficit (The ORCA)
It’s a case of the “phantom savings.” That’s what the Opposition is calling $300 million in internal cuts the BC government claims are in the budget, but can’t actually be found anywhere and haven’t even been identified yet.
It’s a ghostly figure, haunting the pages of the fiscal plan, scaring the bejesus out of government employees and cabinet ministers alike with the spectre of budgetary reductions. Yet it has so little substance you can see right through it, as Finance Minister Brenda Bailey was forced to admit this week during her ministry’s budget estimates.
Bailey was quizzed by Opposition critic Peter Milobar repeatedly, over several hours, to show the $300 million in savings ...
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