The Honourable A. Brian Peckford
February 7, 2023
The Incompetent Financial Management Of British Columbia
Socialists have a hard time paying off the debt if you have extra money .
The latest provincial financial update says that the Province has a surplus on the current account , the operating account.
Nothing said about the capital account. More debt I suspect . You see this trick of separating the operating account from the capital account gives the impression that all our spending in a given year is now in surplus.
Not true , just the operating account.
But the statement also says the Province is carrying an over $90 billion debt.
So why not put that surplus to reducing the debt.
Oh, no , just keep spending.
The Province mentions that this kind of operating surplus might be rare in the near future —all the more reason to start paying down our debt when we can rather than spend on new things which will only make it more difficult to take away when things are not so good——and then we will be in deficit to pay for these new things.
That’s how we got to $90 billion debt we now have.
Look at Ontario and California if one wants examples.
Hon A. Brian Peckford
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