Examining the BC Liberal Government's real fiscal record

Examining the BC Liberal Government’s real fiscal record

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The Common Sense Canadian’s Damien Gillis discusses the BC Liberal government’s real fiscal track record with CFAX radio’s Ian Jessop in Victoria.

The two contrast a history of serious cost-overruns on major infrastructure projects with the oft-repeated myth of the government’s sound fiscal management. From the Port Mann Bridge and Hwy 1 widening (550% of initial estimate) to the a new roof for BC Place Stadium (514% of original projection), emerges a shocking pattern of inept project management.

From July 29 (19 min)

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4 thoughts on “Examining the BC Liberal Government’s real fiscal record

  1. Thank you Damien for telling the truth out there. I love the website and how you always try to see both sides of an argument (something totally lost in MSM). I have an Economics and Environmental Degrees so I like to see things from both perspectives. Two things strike me 1) a strong repulsion in taxes in the wealthy in America and 2) Not a true Economical evaluation of the costs of resource extraction. So many corporations (Ikea, Walmart, Amazon, GE, Apple, etc ) will everything to reduce their tax costs. Yet Government s think they are going to save the day and provide jobs and a strong tax base. When Microsoft lays of 14,000 employees and their stocks go up there is something wrong. Ceo’s being rewarded in stock options so they can elude income tax is criminal (worthy of heavy sentences in prison unlike the guy that robbed the corner store to put food on his table). Reagan and Thatcher started this bad experiment and it has been helped by The Bush’s, Yea Party,Harper, ampbell and now Clark. We are left enormous debt, a weaker middle class, fewer well paid jobs, and a few very wealthy powerful players. Bring back the Park Rangers, Forestry Workers and add more Teachers and Nurses and give the Paramedics what they deserve. I would rather have a 100 people making $70,000 than one guy making $7,000,000.
    This century is about water and if North America continues to frack, pollute the water sources and extract water for lawns it will have serious repercussions. Can’t go to the beach in Vancouver, can’t touch the water in Toledo , Ohio and California can’t find the water to grow their fruits and vegetables. t all reminds me of the Fram Oil Filter Commercial, “You can pay me now, or pay me later!”.
    Damien and Raif keep up the great work. I would like to see some more articles from Erik Andersen (?). His piece on the true BC provincial debt was very revealing and possibly the best example to how incompetent the Liberal Government has been.

    1. Thanks for the kind words, Greg…I try 😉

      You raise some important points. We – certainly the mainstream media – have come to buy the dogma that low taxes, especially for corporations and the wealthy = strong economy.

      As I’ve made the point before, we need to ask the fundamental question “WHOSE economy?” There is no “THE economy”. http://bit.ly/1s32KsK

      Despite thousands of reasoned, well-researched submissions to the Joint Review Panel on Northern Gateway – from transport engineers, biologists, economists, First Nations who know the land and waters better than anyone – the decision was simply that it was in the national economic interest. And no real evidence required. It’s not like the case was compellingly made, based on hard evidence – in fact, there is much evidence to the contrary.

      http://bit.ly/1p3QhWZ

      It’s simply enough to make the assertion and that wipes out the vast majority opinion that the project poses too many risks for the public and environment, with too little reward.

      http://commonsensecanadian.ca/economy-evidence-required/

      And, as you say, we’re not doing the full cost analysis of what these projects mean for the environment. What’s the value of the externalities?

      Take the recently-approved KSM Mine…record-sized tailings and acid rock drainage issues for up to 200 years. Who’s going to stay on top of that? Who’s going to pay for that? All that risk, amid vital fish habitat, and the company has to post a $400 million bond. That’s it?

      http://commonsensecanadian.ca/ksm-mine-promises-epic-gold-copper-jobs-waste/

      In BC, we have an education crisis, serious health care issues and other important places where the government tells us there is no more money…But just wait, LNG will save the day. Except it won’t. Not even close. Because we have the among the very lowest royalties, taxes and public benefits from this public resource of anywhere in the world.

      http://bit.ly/XwQHL9

      Meanwhile, tens of billions of dollars of taxpayer money is squandered on appallingly mismanaged capital projects and sham private power contracts.

      http://bit.ly/1p3PXY2

      People are definitely making money in this economy. It is certainly good for some parties…Just not the general public or the people most in need of financial opportunities and a hand up.

      That’s just not these guys’ style.

  2. Its a shame that the NDP didnt feel it was necessary to point out the Liberals complete lack of fiscal competancy during the last election.

    Seems they were too busy being “nice” to point out to the taxpayers of BC how badly we’ve been hosed.

    And now we have to suffer through 3.9 years of Christy Clarks inane, pointless bafflegab while she smirks, jiggles and winks for a compliant media.
    She should be investigated for BC Rail ……but that another story.

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