Bob Simpson's Musings
What a difference a couple of weeks make. Two weeks ago the Minister of Finance stated he was determined to balance BC’s budget by 2013 as required by the law. This week, armed with a new financial update and weakening prospects for BC’s economy, the Minister stated he will still try to do that, but isn’t willing to take a “damn the torpedoes” approach to balancing BC’s books.
If the Finance Minister is going to miss the legislated timeline to balance BC’s books by 2013, then, for the third time since 2009, the BC Liberals will have to introduce legislation next spring to amend the balanced budget law to give themselves the legal authority to run deficits for a few more years.