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Throne Speech delivered in Victoria
VICTORIA/CKNW (AM980)
Sean Leslie | Email news tips to Sean
2/12/2013

Lieutenant-Governor Judith Guichon has delivered the Liberal government's speech from the throne, with promises of a huge fund aimed at paying off the provincial debt.


Here are the highlights:


Creation of a "BC Prosperity Fund" to collect revenues from L-N-G industry; government estimates more than 100-billion dollars will flow into fund over 30 years.


Some of that revenue will come from existing corporate taxes and natural gas royalties;  but government also plans a new "L-N-G" tax, amount not spelled out.


Money from "Prosperity Fund" to pay down total debt (currently $56b); to "enhance" government programs and services; and to possibly allow future tax cuts, including possible elimination of provincial sales tax

Other promises:  create a school of traditional Chinese medicing at a post-secondary institution

"In the coming weeks" government will:

Introduce legislation to create senior's advocate and a plan to address elder abuse, outline improvements for patients in rural and urban areas and to primary health care, "renew commitment to small business owners to keep our province most small business-friendly  jurisdiction in Canada"
 


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  • 21
  1. insite posted on 02/12/2013 02:43 PM
    We should now look forward to great things over the next 30 years starting when LNG plants are on stream.

    This throne speech has everything. No one has been left out. No region -from the Washington border to Alaska, from the pacific coast to Alberta,no region has been left out.

    Listening to the throne speech, L-G Guichon seemed to choke on a few passages.

    Can't say, I blame her.
  2. taxed to death posted on 02/12/2013 02:59 PM
    Other promises: create a school of traditional Chinese medicing at a post-secondary institution.????? HUH WTF is this

    Hell lets shoot for the stars and get some real courses in ice fishing in Merrit,
    how to swim across Hells gate, beachcoming for crab shells....


    wow these people are remarkable.
    1. Ron_26 posted on 02/12/2013 03:40 PM
      @taxed to death What is it?
      Bush league reporting that grabbed you so I suppose it worked.
  3. whiterockj posted on 02/12/2013 03:59 PM
    hst not on the radar, we will not sell BC rail, we eill not tear up contracts, the deficit will be 495 million and not a penny more


    now we get "prosperity fund"

    sorry christy, sounds nice, i hope the government that replaces your party in may makes it happen.
    1. CosmicS posted on 02/12/2013 07:39 PM
      @whiterockj I agree....hard to trust a government that rips up contracts after saying they won't!!!! Lies, Lies, Lies!!!
    2. bctaxpayer posted on 02/13/2013 07:24 AM
      @whiterockj We will keep on reminding the BC tax payer's how the BC lie berals Lied about the BC rail corruption scandal,B,Lied about BC Hydro,Lied BC Place 360 Million overrun, lied about The Convention Center nearly tripled there budget to over Yes 1 Billion$$$$,pay ing basi - verk lie beral criminal's 6 Million$$$ to keep quiet and so on.Yes the BC lie beral party cannot be trusted,they have proven that in spades full.
  4. insite posted on 02/12/2013 04:32 PM
    LNG production and liquification for the export market will generate over a trillion dollars of economic activity-so we are promiised.

    $100-$250 billion will go to the provincial treasury from royalties and a LNG tax yet to be determined-so we are promised.

    If the the LNG industry has to ask for a subsidy to make the LNG plants viable when export prices are more than 3 times the domestic price, how will the industry be able to survive if the provincial government imposes a LNG tax on it?

    This just doesn't add up.

    All this sounds like the 2005 pre-election announcements on how natural gas was the future and the promised land. At that time, domestic natural gas demand and prices appeared to be going sky-high. As a result, the province dramatically increased spending and started to run up the provincial debt. It has been downhill since. As a result of the global recession, natural gas demand tanked. At the same time, supply increased due to new fracking technology and prices went south and the province took a revenue hit.

    It is a known fact that the resultant loss of natural gas revenue contributed to the five consecutive provincial budget deficits.

    To project that BC will collect $100-$250 billion of LNG revenue over the next 30 years is simply wishful thinking. At best, LNG plants will not be up and running until 2020-SEVEN years from now.

    It is unrealistic to claim such revenue projections over a 30 year span. Based on history, we can expect at least 4 MORE recessions in 30 yrears. The provincial government is being too optimistic. To predict huge expenditures on tunnels, highways, alternative medicine, etc., means we are repeating the mistakes of 2005.

    We are counting our chickens before they hatch.

    But, if we believe that the provincial treasury will have the hundreds of billion dollars of cash, we should not worry about where Mr. Dix will find the money to pay for his $1 million promise to restore Science World funding.

    And, there will be lots of money left over-thanks to the pending LNG tax- courtesy of the Liberals ... You know-that party which promised not to impose new and crippling taxes?
    1. BlakeN posted on 02/12/2013 06:17 PM
      @insite Good comment.
  5. KenL_6250 posted on 02/12/2013 04:37 PM
    Budget is not acceptable, Christy Clark is relying on Asia to get her out of trouble it is not going to happen, HD Mining alone is just one example of the troubles to come, cannot wait to Vote in May,2013 this ass Bell and Coleman have to go!
    1. bctaxpayer posted on 02/13/2013 09:00 AM
      @KenL_6250 The BC lie berals will never and have never balanced a budget,nothing but lies,lies,lies,and more lies.
  6. insite posted on 02/12/2013 04:57 PM
    The bear-hunt guiding industry will benefit. Sale of bear paws, gall bladders, etc. will be legalized.

    Pzifer-look out.
  7. BY_7463 posted on 02/12/2013 05:43 PM
    Wow. Just heard snokums. We are going to be out of debt (that the LIE BERALS CREATED) by the the time little Hammie is 26. At least that's what snookums said.And she wouldn't LIE to little Hammie.Or would she. After all she slung beer at The Blue Boy. But a far as being out of debt. I remember being in Kelowna in 1958 for the Hydroplane races on Lake Okanogan with my Dad. They had a barge on the lake that was full of all the payed bonds that BC had and we were out of debt.. Old WACY Bennet shot a flaming arrow into it to light the bonds on fire. He missed by about 50 feet and one of the Queens Cowboys had to light it on fire from the back of it. He said then that BC was out of debt forever. Coudn't trust him any more than you can trust Snookums and all the retreaded socreds can you???? And speaking of that flaming barge. What do all you go green nut bars think of lighting that on fire and sinking it in Lake Okanogan????????
  8. BY_7463 posted on 02/12/2013 05:43 PM
    Wow. Just heard snokums. We are going to be out of debt (that the LIE BERALS CREATED) by the the time little Hammie is 26. At least that's what snookums said.And she wouldn't LIE to little Hammie.Or would she. After all she slung beer at The Blue Boy. But a far as being out of debt. I remember being in Kelowna in 1958 for the Hydroplane races on Lake Okanogan with my Dad. They had a barge on the lake that was full of all the payed bonds that BC had and we were out of debt.. Old WACY Bennet shot a flaming arrow into it to light the bonds on fire. He missed by about 50 feet and one of the Queens Cowboys had to light it on fire from the back of it. He said then that BC was out of debt forever. Coudn't trust him any more than you can trust Snookums and all the retreaded socreds can you???? And speaking of that flaming barge. What do all you go green nut bars think of lighting that on fire and sinking it in Lake Okanogan????????
  9. BY_7463 posted on 02/12/2013 05:43 PM
    Wow. Just heard snokums. We are going to be out of debt (that the LIE BERALS CREATED) by the the time little Hammie is 26. At least that's what snookums said.And she wouldn't LIE to little Hammie.Or would she. After all she slung beer at The Blue Boy. But a far as being out of debt. I remember being in Kelowna in 1958 for the Hydroplane races on Lake Okanogan with my Dad. They had a barge on the lake that was full of all the payed bonds that BC had and we were out of debt.. Old WACY Bennet shot a flaming arrow into it to light the bonds on fire. He missed by about 50 feet and one of the Queens Cowboys had to light it on fire from the back of it. He said then that BC was out of debt forever. Coudn't trust him any more than you can trust Snookums and all the retreaded socreds can you???? And speaking of that flaming barge. What do all you go green nut bars think of lighting that on fire and sinking it in Lake Okanogan????????
  10. bhappy posted on 02/12/2013 08:06 PM
    If it wasn't so serious it would be a JOKE!! Eliminate the Provincial Sales Tax.....OMG, they really do think the BC taxpayer is an idiot!

    Ask Alberta how things are going with the price of oil right now for them....and the Liberals are putting all their faith into LNG......

    And how pathetic to say they'll start a TCM school in a Post Secondary institution, when the Ministry of Health and most health insurance carriers won't even recognize it as a legitimate practice even though they have legislation and a professional regulatory College. Square that circle for us will ya Christie???? MSP doesn't cover it either!

    Please May 14th...come sooner and take us out of this insanity!
    1. bctaxpayer posted on 02/13/2013 08:54 AM
      @bhappy May May come to morrow never too soon.Risky is in trouble and the lie beral ship is inking fast. Thank goodness,as we cannot stand anymore BS from the corrupt BC lie berals.
  11. DougB_25 posted on 02/13/2013 09:18 AM
    People should take a less jaundiced view of the possibility of this kinf of a Prosperity Fund.That's not to say I think this or any other government can pull this off in the VERY neat future.BUT,if the sale of non renewable natural resources concerns you,you should also be concerned about how it will affect your children,and their children.To better THEIR lives,it seems to me that we have to leave a share of the revenue from the sale of ALL non renewable resources for the next generation.These resources WILL run out at some point in time.If we spend all the money we got for them on "free"" social progams for ourselves,I think we are betraying our children,and their children.Surely we can not leave them BOTH,a mountain of debt and a nation that sold all it's non renewable resources. And spent all the money on ourselves,on top of that .
    If not THIS policy,citizens need a policy that does something similar to what has been proposed.And EVERY party who forms government should be expected to be bound by it.We simply cannot continue to spend everything on ourselves,and leave no money and no resources for our children to pay our debt with.
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