Tomorrow, Tuesday Feb 19th the BC Liberal’s will table their last budget before the election. While it is expected that Finance Minister Mike De Jong will table a balanced budget it is generally recognized that this budget is part of the upcoming election campaign more than a “business as usual” budget.
Generally such budgets do not include a widespread increase in personal taxes as that will affect the votes however there are some suggestions that corporate taxes various user fees and maybe even the personal taxes of high income earners could be revised.
The biggest problem in the past is that the Liberal’s budget projections have been significantly incorrect. In some years the surplus has been way above the predicted amount and in other years the deficit has been way greater than predicted.
The Government did take an unusual step of hiring an economist to comment on their revenue projections and based on this they reduced their predictions. However of note is that the economist was apparently not asked to comment on the expense predictions. Doesn’t it make sense to look at both sides?
Stay tuned to the news tomorrow for a summary of the budget.