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BC Government tables 2013-2014 budget: highlights
VICTORIA/CKNW (AM980)
Sean Leslie | Email news tips to Sean
2/19/2013

The provincial government has tabled its 2013-14 budget, calling for a surplus of $197 million in the coming fiscal year, with some new programs aimed at children and families

Here are some of the highlights:

--the surplus will be achieved through a mix of tax increases, spending restraint, asset sales and economic growth

--tax hikes will bring in an extra $327 million in the coming year

--the corporate income tax rate rises from 10 to 11 % on April first, one year earlier than planned  (raising $205 million)

--there will be a temporary two year increase in the personal income tax rate for individual income over 150-thousand dollars, effective january first, 2014 (raising 50 million dollars), goes up by about 2 percent

--tobacco taxes go up by two dollars per carton on october first (raising 17 million dollars)

--msp premiums go up by about four percent on january 1, 2014 (raising 23 million dollars)

--school property tax credits for light industry are phased out for the 2013 tax year (raising 32 million dollars)

--as promised, no increase in carbon tax, rate to stay the same for next three years...but there is
20 million to provide carbon tax relief for commercial greenhouse vegetable and flower growers
..and farmers will get carbon tax exemptions for coloured fuel

--government says it will hold annual spending increases to 1.5 per-cent over the next three years, while revenue is expected to average three per-cent annual growth

--savings of 1 billion dollars identified in ministries and crown agencies over 3 years

--economy expected to grow by 1.6 per-cent in 2013, 2.2 per-cent in 2014, 2.5 per-cent in 2015

--land sales of more than 100 surplus properties, raising 800 million in the coming fiscal year, 150 million the following year...that represents less than two percent of government's 70 billion dollar portfolio

--there are some new spending measures spread out over the next 3 years

--government is introducing a new bc training and education savings grant worth 12-hundred dollars
--when a child born on or after january 1st, 2007 turns six years old, government will deposit 12-hundred dollars into r-e-s-p (registered education savings plan); no matching contributions are required

--a new early childhood tax benefit to be introduced in 2015, worth up to 55 dollars per month or 660 dollars annually for each child under six.....aimed at low income families, would be phased out for families with net income between 100-thousand and 150-thousand dollars

--76 million over 3 years to improve early learning and child care services and supports 

--there will be 52 million dollars in new money over 3 years to cover increased rcmp costs

--60 million in new and reallocated fundeing for the sports and arts legacy fund

--18 million for the new b-c creative futures agency

--13 million over 3 years to support renewal and renovation of 13 provincially owned s-r-o hotels on downtown eastside

--5 million to enhance counselling and treatment for problem gambling

--4 million over 3 years to help agricultural land commission increase oversight of the a-l-r

--total provincial debt forecats to be 63 billion dollars in 2013-14, rising to 69 billion in 2015-16

--key measure of debt-to-gdp ratio will peak at 18.3% in 2014-15, then fall to 18.1% the following year

--fiscal plan has forecast allowance of 200 million dollars and contingency fund of 225 million dollars

--deficit for the current fiscal year ending on march 31st has been reduced from 1.5 to 1.2 billion dollars


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  1. MisterS posted on 02/19/2013 02:40 PM
    Okay before all the negativity starts, I want to say how excited and thrilled I am at the budget. I will share with my children tonight. I will tell my friend and co-workers about it. It's so amazing! It's better than Christmas day from my childhood. The Liberal have really done it. Oh yes. Sound the trumpets! (the preceding message was said in jest, and in no way reflects the opinion of a sane individual)
  2. brianp1950 posted on 02/19/2013 02:45 PM
    pass the beer, lots of it please, they say the government will earn 44 billion dollars, earn? more like steal. Balanced my butt, MSP premiums up again, will it ever end? ashamed of these guys hopefully for the last time.
  3. Ron_26 posted on 02/19/2013 02:50 PM
    Some excellent items here. Looks good ar first glance.
    1. HJDH posted on 02/19/2013 05:41 PM
      @Ron_26 what do you like about it?????
    2. LorAx posted on 02/19/2013 05:46 PM
      @Ron_26 lol
  4. Garp posted on 02/19/2013 03:02 PM
    "76 million over 3 years to improve early learning and child care services and supports"

    Excellent!
    1. HJDH posted on 02/19/2013 05:40 PM
      @Garp too bad the 16 $million spent on useless Liberal partisan advertising could not be added to this amount. Would have done a lot more good!
  5. insite posted on 02/19/2013 03:10 PM
    We will not know if this budget is balanced as presented until next year at around the same time.

    But, if the present government is still in power, you can take this to the bank. There are dozens of crown assets, in addition to those already announced, that could be sold if things do not work out as promised.

    It was the worst-kept secret that the closing of the Little Mountain property sale would be deferred into fiscal 2013/14 from fiscal fiscal 2012/13.

    It was interesting to note that Mr De Jong's budget speech really sounded like a rehash of the throne speech-the one that Lt. Gov Guichon nearly choked on....

    I turned the TV off.
  6. bctaxpayer posted on 02/19/2013 03:33 PM
    If risky Clark and de Jong were involved in this budget who in the world will believe it????????????????????????????????????????????????????????? BC tax payer's by now you should all know the BC lie berals cannot be trusted.I sure will never ever believe them.
    1. LorAx posted on 02/19/2013 05:44 PM
      @bctaxpayer You are far too suspicious. Liberals would never deceive the public, especially not prior to an election.
  7. DeepC posted on 02/20/2013 08:15 AM
    "The provincial government has tabled its 2013-14 budget, calling for a surplus of $197 million in the coming fiscal year"

    I thought the budget was to be balanced? having a surplus is nice but does not make the budget balanced.

    "total provincial debt forecats to be 63 billion dollars in 2013-14, rising to 69 billion in 2015-16"

    If there is a surplus then why is the provincial debt going up, should not any surplus go to the debt? If the debt is going up due to interest then should that not be included in the budget?
  8. BlakeN posted on 02/20/2013 01:27 PM
    Where to begin? Hmmm. Let's start with the fact that 6.5 billion gets added on to the debt this year. How is that "balanced"? Next let's look at how they propose to raise nearly half a billion dollars. Selling crown land. Without getting into whether this should be done or not, how reasonable is it to project earnings in a year where the property values are expected to dip? How can they claim they will meet thier revenue projections? (pie in the sky, sort of like saying we won the LNG lottery- Ha, ha,ha). Last thing is with the BC Rail scandal still unburied, why would we trust the Liberals with the sale of any more public assets?
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