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Premier Recalling Legislature November 20th

By 250 News

Wednesday, October 22, 2008 06:28 PM

Prince George, B.C.- Premier Gordon Campbell has announced his 10 point plan to shore up the economy of B.C.
In his 15 minute address, the Premier started by saying the global economic problem is not someone else’s problem, “it is all of our problem.” While The Premier says B.C. is in better shape than most with a triple a credit rating,   “We will not let this economic slowdown return us to the ranks of the have not provinces we saw in the 1990’s”
1.      Act to strengthen deposit protection to everyone who has deposits in credit unions.   Act to provide unlimited insurance to those with deposits in credit unions
2.      Create a new pension option for B.C residents who have no access to a pension plan. This will be a privately financed plan available to all employers, employees and self employed on a voluntary basis.
3.      Accelerate income tax relief with  further 3% cut in personal income tax retroactive to January 2008. “This will put $144 million dollars back into homeowners pockets”  Further corporate tax cuts, bringing to 10% the corporate tax cuts
4.      50% of all school taxes to be returned to industry to help industry survive downturn
5.      Act to accelerate relief for   B.C’s small businesses which employ more than 1 million people. Tax rate cut will be  2.5% effective the end of this year.
6.      Raise the commission  paid to business for collection of pst and hotel room tax, the first increase in 14 years
7.      Accelerate public investment in capital infrastructure.
8.      Fund a 33% reduction in ferry fares for December and January and will restore all routes ( cost of $20 million dollars)
9.      Act immediately to rein in avoidable government spending to avoid deficit spending “We will not start digging ourselves back into the hole we all worked so hard to get out of” He admits the government will not be able to avoid everything it might like.
10.   The Legislature will be recalled for November 20th to enact these measures
 
The measures will be supplemented by other measures as the months progress.
“We have a duty to be prudent and fiscally responsible with your dollars.”
The Premier will be on the Meisner program tomorrow ( Thursday)  morning at 9:00 on  93.1 CFIS FM and on  Opinion250 through Live Streaming audio.
Earlier today, Ontario declared it will have to enter a deficit because of the economic downturn, and Saskatchewan announced tax breaks to stimulate its economy.

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Comments

Well it's better than I thought it was going to be. Any cut in taxes is a good thing. We all pay far too much in taxes, I am glad to have a little more jingle in my pocket.
what ferry routes were cut? "8. Fund a 33% reduction in ferry fares for December and January and will restore all routes ( cost of $20 million dollars)"
Nothing spectacular but good just the same.
The only thing that I find a bit of a joke is that legislature should have already been sitting!!
And why not until November 20th.?
What's wrong with Monday morning bright and early?
Oh and one more thing...would "avoidable government spending" be considered as fat raises for politicians who have not earned them?
He kept the useless carbon tax. He's still a useless twit.
If he leaves it until late November he can limit the session to a couple of weeks, then break for Christmas. That way he can say he has had a Fall sitting, but limits his exposure to the opposition's questioning.

Item number 9 is interesting. Does that mean more cuts for education, health care etc?
Yup, more corporate tax cuts. That's just what we need and now that the provincial cupboards are empty, social services for the unemployed will be unavailable. Governments do not control economies and a recession is inevitable. This is just another opportunity for Campbell to give his corporate friends even more of a give away. Mark my words as people lose their jobs there will be universal shock that unemployment and welfare assistance simply no longer exists as they expect it to. The only answer will be to run a deficit or to increase taxation on individuals. God forbid any interruption should come to corporate greed. No need to argue with me either, just remember that when it happens, there were those who told the truth and thus all this bull$hit would not have been necessary if those in power had only listened.
Ah yes... 'The same old hacks grinding the same old axe'
I don't understand why the PST was not reduced as well. Basically all I see by this plan is everyone needs to hang on for another 6 to 9 months before they see any real benefit from this. Sure the tax cuts are retroactive but that doesn't help business today. It may, I emphasize may, help future investments. However with the market in the toilet and no one to consume, who is going to invest, and in what exactly? Might help those in the lower mainland using the ferries which in turn could be of assistance to retailers for their most important time of year for sales. I see nothing here to help the small business owner today.
This pension fund is an interesting idea. However, if people are losing their jobs what benefit is it? I am looking forward to the details.
Does anyone else feel that he is gearing up for an election and is satisfying the mobs in the lower mainland...
Most of this seem to apply to them..
yes we, here in the north, get some splash off....
It could have been worse I suppose....
My three yaer old grandson could have done a better job of reading Campbells plan.
The opposition will understand that this is not the Asian Flu affecting only B.C. but that this is a Global Flu affecting virtually every country and every province in Canada.

Keeping this in mind instead of ranting and raving and finger pointing everyone will pull on the same rope in the same direction to keep the effects on our B.C. economy and jobs to a minimum.

One can hope; however the opposite will most likely happen.
While Campbell said some of the right things last night,he did not go far enough.
He has a huge cash problem looming and he knows that.
There is fear on this guy's face and rightly so.
He cut the toll on the Coq. and now he is cutting taxes,some to the little guy, but lots to the corporations.
That is going to carve a huge hole in revenues.
The Olympics will now cost B.C. a lot more dollars and he knows that as well.
There is no way around that.
Guess his carbon tax is paying pretty good,because the money has to come from somewhere, or he would not have done it.
And there is also little doubt that he is now in election mode and what better time to adjust his image?
Good luck with that!
In the end,it will still be the little guy who takes the bull by the horns and digs his way out of this mess.
And he will still be Gordon Campbell.
A leapord doesn't change his spots.
Despite the Liberal mantrra otherwise, the Asian Flu did indeed affect all provinces. In fact, it affected numerous countries around the world, including the USA. The Wikipedia article on the subject says this:

"It started in Thailand with the financial collapse of the Thai baht caused by the decision of the Thai government to float the baht, cutting its peg to the USD, after exhaustive efforts to support it in the face of a severe financial overextension that was in part real-estate driven. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. As the crisis spread, most of Southeast Asia and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt. After the Asian crisis, international investors were reluctant to lend to developing countries, leading to economic slowdowns in developing countries in many parts of the world. The powerful negative shock also sharply reduced the price of oil, which reached a low of $8 per barrel towards the end of 1998, causing a financial pinch in OPEC nations and other oil exporters. This reduction in oil revenue contributed to the Russian financial crisis in 1998, which in turn caused Long-Term Capital Management in the United States to collapse after losing $4.6 billion in four months. A wider collapse in the financial markets was avoided when Alan Greenspan and the Federal Reserve Bank of New York organized a $3.625 billion bail-out. Major emerging economies Brazil and Argentina also fell into crisis in the late 1990s (see Argentine debt crisis)."

Scrap the olympics it will put the province into the poor house
Andyfreeze says "..In the end,it will still be the little guy who takes the bull by the horns and digs his way out of this mess.
And he will still be Gordon Campbell..."

Gordon Campbell is the "little guy". In the world of heavy hitters the leader of BC is almost a nobody, so you better hope this little guy can keep us in the style we have become a custom as there is no one else in BC that would be any better. We would all be in the soup line and walking away from our mortgages if the NDP was running things. The NDP ran BC into a financial hole while the world was doing well, BC would be a ghost town if the NDP was still around today.


Ammonra:"Despite the Liberal mantra otherwise, the Asian Flu did indeed affect all provinces."

It may have had some effect on other provinces as well, but B.C. was the only province in Canada (under the decade of management of the NDP) which collapsed from number one position to dead last number ten.

It's a fact and not an anti NDP mantra.

What good does it do to have a government in power that is clueless and incapable to react wisely when things get tough?

Now that it has been demonstrated that the NDP can run this province only under favourable international conditions why would I recommend the NDP to anyone?

I can not do so in good conscience because another exodus of businesses and jobless to Alberta would be the predictable outcome.

"The NDP ran BC into a financial hole while the world was doing well, BC would be a ghost town if the NDP was still around today."

Well,...yes.
So who are we gonna blame now?????.........the NDP
Now the question will be "can the liberals run this province under unfavourable international conditions?"
I doubt it.
Stay tuned for "fudgit budget the sequel"