Dear Editor,
So yet another vitriolic B.C. election is over, and the NDP, despite coming so close, appear to have fallen short yet again.
Despite the fact that Premier Christy Clark (a person, who, in my opinion, is totally devoid of empathy, has no morals or ethics, has been totally corrupted by big money and is on loose terms with the truth and facts) appears to have, subject to recounts and absentee votes, secured, at minimum, a minority mandate, the NDP may be better off coming up a bit short.
Take the economy.
B.C. has led the country for the last two years in economic growth. During the election, Clark was claiming that the Conference Board of Canada indicated that B.C. would also lead the country in economic growth, at 2.4 per cent, in 2017. This statistic was also quoted by the Vancouver Sun in their endorsement of Clark the day before the election. However, both The Sun and Clark (again showing her loose association with the truth) failed to acknowledge that the Board had revised their growth prediction for B.C. to 1.9 per cent (fourth in the country). It should be noted that the current budget is predicated on growth of 2.3 per cent.
The reduced growth projection for 2017, and subsequent years, will result in less government revenue and reduced (if any) job growth. This, of course, will mean a deficit budget or reduced expenditure (with the Liberals this means cuts to the most vulnerable in society).
Under Clark, both ICBC and B.C. Hydro have been reduced to financial basket cases. Both are losing massive amounts of money.
It has been speculated that ICBC rates could increase as much as 42 per cent over the next few years.
B.C. Hydro may be even in worse shape, given that Moody’s Investments Services is considering down grading its credit rating.
Under the Liberals, Hydro has created deferral accounts that now total almost $6 billion, by far the most of any North American utility. This money eventually needs to be repaid.
The deferral accounts give the allusion that Hydro is making a profit and thus need to pay a ‘dividend’ to the government. The fact is Hydro does not make a profit and has to borrow money (from the government) to pay the government a ‘dividend’.
The NDP’s election promise to freeze Hydro rates for a year may make good politics but is incredibly bad policy. The bills eventually have to be paid.
A day of reckoning is coming for both ICBC and B.C. Hydro. The result will be massive cost increases to British Columbians regardless of who is in power.
Liberals love mega projects.
The Vancouver Convention Center, B.C. Place Renovation, South Fraser Perimeter Road, North West Transmission Line, Port Mann Bridge Replacement and the Evergreen Line Extension are all, among other projects, initiated by the B.C. Liberals that have one thing in common; they were all delivered late and massively over budget. The same situation applies to almost every IT project initiated by the Liberals.
Why should we believe that Site C (and the Massey Bridge) will be any different?
If the NDP was in government when the bills come due, they would be tarred with the fallout (after all they are still vilified by the Liberals for alleged sins committed in a previous century) and would spend another 20 years in the political wilderness.
The NDP is best letting the Liberals take the heat for the mess they created.
Al Williams
Richmond
