On this edition of Journal: a look at the state of our provincial economy with Chris Gardner, President and CEO of ICBA (Independent Contractors and Business Association).
With the municipal elections finally behind us – an election that some analysts have dubbed the “earthquake election” due to the number of leaders who were turfed from elected office – we can now turn our attention to the provincial economic story: just how bad is it?
Well… it’s not good.
In September job losses topped 20,000. Our economy is flat. Inflation has been running at about 3%. But at the same time, the deficit has been growing to $7.7 billion in 2022 and then to a historic high of $13.8 billion this year.
I know, I know. That’s a lot of numbers. But the essential point is former Premier John Horgan left a budget with a SURPLUS to Premier David Eby when he took over and now it is a DEFICIT of $13.8 billion. Surplus to deficit, just like that.
Where did that money go? Housing starts are down, not up. Our forestry industry is being hammered with 21 lumber mills and 4 pulp mills closing. And heavens knows we have ERs closing all over the province, all the time.
…And so it goes.
So how are people feeling about living in BC? And why are families concerned that their kids will not be able to make a life in this wonderful province?
For Chris Gardner and all of us, the question is: We have dug this financial hole; what public policies will make it worse? And what policies could make the situation better?
---
Carole Taylor's Journal is a public affairs dialogue that digs deep into the most pressing issues of our times. For more, see our website at http://www.caroletaylorsjournal.ca.
","author_name":"Conversations That Matter"}