NDP apologist, JC Vallance, is at it again in your March Letters section, hoping against hope that someone will believe his disgraced NDP cronies of the 1990’s were actually responsible fiscal managers.
You don’t have to believe me or JC.
CIBC Economics said on February 15, 2011: “BC remains a low-debt province, with a highly affordable debt burden.” BMO said: “As one of Canada’s two provinces with a triple A credit rating, B.C. has high standards to meet, and its fiscal plan appears on track.”
Because we have an AAA rating, you the taxpayer are paying far less interest on debt than all other provinces except one, a far lower rate than you paid in the 1990’s.
B.C. has the third lowest debt-GDP ratio in the country, the most important statistic about debt, because it is an accurate indicator of economic strength.
The NDP borrowed to pay for the annual operations of government and doubled the provincial debt over 10 years.
The B.C. Liberal government has paid down that type of debt and has borrowed mostly for capital projects: highways, bridges, airports, schools, colleges, universities, hospitals and clinics to name a few. To suggest that the NDP are good managers of the economy is transparently untrue and is not supported by almost any economist in Canada.
Bill Bennett
MLA, Kootenay East