B.C.'s new finance minister looking to balance competing demands

B.C.'s new Finance Minister Brenda Bailey is receiving competing advice as she prepares to deliver one of Premier David Eby's signature campaign promises: a tax cut of $1,000 per average household to help British Columbians pay the bills.

"I think it's fine to run that deficit, but if they can focus on something a bit more targeted to low-and-middle-income households, that would get the money into the hands of people, who need it most and it would lower the overall fiscal cost." "We are only spending about four cents of every dollar of revenue on servicing interest," Lee said, adding that falling interest rates will also lower the cost of borrowing.

Co-authors Ken Peacock, senior vice-president and chief economist, and David Williams, senior vice-president of policy, argue that current spending levels are not sustainable. "It is not being driven by external events or Canada's fiscal equalization arrangements," they wrote."It is also at odds with where B.C. sits in the economic cycle: this is not an economy needing the government to stimulate demand."

Peter Milobar, Conservative Party of B.C. MLA for Kamloops Centre and finance critic, said he hopes Bailey doubles down on efforts to make B.C. more competitive for foreign investment by speeding up permitting in various resource sectors and housing. H'd also like to see reform in the tax system to make it more competitive. " Conroy would say, 'some people say it's time to cut, we are not going to do that.

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