Tuesday, March 09, 2010

Governments will keep on spending until we tell them to stop - Vancouver Sun

No governing party in B.C. has ever left office leaving less debt than when it entered.

It appeared at the beginning of its mandate that the Liberal government led by Premier Gordon Campbell would turn the tide, with its commitment to eliminate the deficit as quickly as possible, which could have led to lower overall debt levels thereafter.

However, when it took the reins in 2001, total provincial debt stood at $36.8 billion; in the coming fiscal year, according to last week's budget, the provincial debt will amount to $47.8 billion, and rise to $55.9 billion in 2012-13.

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