"We are better positioned than virtually any other jurisdiction in the country,"
British Columbia's finance minister says a higher-than-expected budget surplus leaves room for modest family initiatives but he's wary of escalating forest-fire costs and signs of economic downturns in Canada and internationally.
The province's budget surplus hit $1.68 billion, significantly higher than the original forecast of $184 million, Mike de Jong said Wednesday.
He announced the $1.5-billion surplus increase for the 2014-2015 budget as he released the government's public accounts numbers for the fiscal year that ended in March.
"We are firmly back in the black," de Jong said. "What does that mean? What does it mean for families? What does it mean for the province? It has meant in a limited, modest way that we are able to begin to provide some additional supports to families."
He said recent government programs involving early childhood development tax credits and education and skills-training grants are related to the increased surplus.
New Democrat finance critic Carole James said much of the surplus has resulted from taxes and fees.
"It's come from hard-working British Columbians who aren't getting anything back from this government," she said, citing higher rates for hydro, medical services premiums and public auto insurance.
De Jong said the larger surplus is due to $1.3 billion more in revenues than were estimated in the February 2014 budget.
more
B.C. posts $1.68B surplus, up from $184 million from 2014 forecast | CTV News
British Columbia's finance minister says a higher-than-expected budget surplus leaves room for modest family initiatives but he's wary of escalating forest-fire costs and signs of economic downturns in Canada and internationally.
The province's budget surplus hit $1.68 billion, significantly higher than the original forecast of $184 million, Mike de Jong said Wednesday.
He announced the $1.5-billion surplus increase for the 2014-2015 budget as he released the government's public accounts numbers for the fiscal year that ended in March.
"We are firmly back in the black," de Jong said. "What does that mean? What does it mean for families? What does it mean for the province? It has meant in a limited, modest way that we are able to begin to provide some additional supports to families."
He said recent government programs involving early childhood development tax credits and education and skills-training grants are related to the increased surplus.
New Democrat finance critic Carole James said much of the surplus has resulted from taxes and fees.
"It's come from hard-working British Columbians who aren't getting anything back from this government," she said, citing higher rates for hydro, medical services premiums and public auto insurance.
De Jong said the larger surplus is due to $1.3 billion more in revenues than were estimated in the February 2014 budget.
more
B.C. posts $1.68B surplus, up from $184 million from 2014 forecast | CTV News
