Chamber Applauds Balanced BC Budget
(Tri-Cities) February 19, 2014 – The Tri-Cities Chamber of Commerce commends the B.C. government for tabling a balanced budget at yesterday’s meeting of the Legislative Assembly.
The budget illustrated a pattern of restrained spending and stated no tax increases for the province. We applaud the government for presenting a surplus without a tax increase and look forward to more details on how this surplus will be spent over the next four years, specifically as it pertains to debt reduction.
“We’re pleased to see a balanced budget from the B.C. government. This sets a foundation to build on in the years to come, laying the groundwork for future surpluses that aid in paying down provincial debt and help the economy recover from the 2008 recession.” – Michael Hind, Executive Director, Tri-Cities Chamber of Commerce
British Columbia is one of only two jurisdictions in Canada with a balanced budget for 2014. Our provincial GDP to debt ratio is also doing significantly well at 17.8, in comparison to Ontario which is at 55. A lower GDP to debt ratio puts us in a better position to pay off provincial debt, which trickles down through lower tax rates for businesses in British Columbia.
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