As everyone from the Manitoba-Ontario border to Tofino knows, the local and provincial economies, which depend on resource extraction, have slowed.
In a recent column about the upcoming Metro Vancouver transit plebiscite, Vancouver Sun columnist Daphne Bramham complained about business leaders who talked “way more about cutting taxes for poor beleaguered taxpayers for the past 30 years than they have about the valuable services tax money provides.”
Over the past decade, the province of Alberta treated boom-time resource revenues like a permanent state of affairs. That set the province up for fiscal failure, for multiple lost opportunities.
Against the backdrop of a sluggish and uncertain economy, B.C. Finance Minister Mike de Jong unveiled a largely status quo budget on Tuesday.
The severity of Alberta’s fiscal problems hit home with many Albertans this week as Premier Prentice announced that the upcoming provincial budget will include an across-the-board five per cent spending cut.
Many Ontarians have likely heard a horror story or two about their government’s growing debt and the resulting strain on public finances. You can’t blame them. Sources of evidence abound.