250 News - Your News, Your Views, Now

October 27, 2017 8:03 pm

Economic Growth Means a Raise for Over 300K Unionized Workers

Tuesday, November 29, 2016 @ 11:07 AM

Victoria, B.C. – Provincial revenues are up and the debt is going down.

That’s the upshot from B.C. Finance Minister Mike de Jong’s second quarterly report from Victoria today.

The minister said revenues are forecast to increase by $372 million in 2016-17, compared to the first quarter forecast, primarily due to further improvements in personal income tax revenues driven by higher than anticipated household income last year.

B.C. Finance Minister Mike de Jong

B.C. Finance Minister Mike de Jong

However, that increase has been partly offset by a lower forecast for property transfer tax revenues.

Meanwhile, government spending is forecast to be $71 million higher than the first quarter forecast, including compensation increases for the Economic Stability Mandate dividend and higher emergency program flood-related costs.

De Jong said stronger than forecast economic growth of 3.3 per cent last year means about 310,000 unionized provincial public-sector employees covered by agreements settled under the government’s Economic Stability Mandate will receive an additional pay increase of 0.35 per cent starting in February.

By the end of 2016 taxpayers supported debt is forecast to be $2.1 billion lower than was forecast at budget and $1.6 billion less than last year.

De Jong attributes that due to the reduction in direct operating debt – money borrowed in the past to fund programs and services. The province’s taxpayer supported debt to GDP ratio is now projected to be 15.8 per cent.

“B.C. continues to outperform the country in economic growth, but with modest growth expected for next year,” said de Jong. “That means we must remain vigilant and continue to create a healthy economic profile, with a fiscal plan that balances spending with debt repayment and an economic strategy that diversifies our industries and export partners.”


Instead of just giving the excess cash to the people who make their living sucking on the taxpayer’s teat, why not give it back to the taxpayers? The public sector has it pretty easy already.

    Don’t think it applies ONLY to public sector.. It applies to all the various unions who had negotiated it into their contract.And these Unions cover a vast amount of workers in different work envirnoments

      The article states, “… unionized provincial public-sector employees…”

      If the private sector wants to give their employees (union or otherwise) a raise, I say go for it.

    You do realize that public sector workers pay income tax right?

      You do realize they suck a lot more out of the system then they put in right?

No public sector raises since 2014 and you are going to complain about an increase of 35 cents. Obviously you are not aware that public servants are taxpayers and the government will be taking their share of that 35 cents in income taxes..

Home/Use, Yup they pay taxes but only with dead money. The private sector is the only place new money is created.

BC Finance Minister Mike de Jong states; “B.C. continues to outperform the country in economic growth, but with modest growth expected for next year,”

I am with Palopu on this one, where is all this economic growth in the Central Interior, North Central, and North East regions of BC? I see nothing now, and nothing in the future… nice that the lower mainland is doing so well though.

The raise is 0.35%, which will be much less than 35 cents.

I stand corrected, Thank you.

Comments for this article are closed.