Record Funding For Health, Education And Social Services

Building B.C. For Your Family

Tell Us Your Budget Priorities What’s most important to you? What are your priorities if government had additional resources:

• Fundnewprogramsandservices?• Reducethedebt?• Cutpersonalincometaxes?

TheSelectStandingCommitteeonFinanceandGovernment Services – an all party committee of theLegislativeAssembly–willholdprovince-wideconsultationsinSeptemberandOctobertoseektheviewsofBritishColumbians.

You can provide Your feedback bY:

• Appearingatoneofthescheduledpublichearings.Forlocationspleasevisit:

www.leg.bc.ca/budgetconsultations• Sendingawrittenresponsebyletteroremail• Submittinganaudioorvideofile

Record Funding For Health, Education And Social ServicesRecordfundingisnowbeingprovidedforhealth,education,childprotection,daycare,incomeassistance,housing,publicsafety,seniors’services,universities,collegesandothercriticalpublicservices.Infact,86%ofallnewspendingisgoingtowardshealthandeducation.

please send Your submission (including contact information) bY fridaY, october 15, 2010 to:

SelectStandingCommitteeonFinance and Government Services Room224,ParliamentBuildings Victoria,BritishColumbia V8V1X4Canada Phone:1-877-428-8337(toll-free) Phone:250-356-2933(collect) Fax:250-356-8172 Email:[email protected]

to find out more, visit bcbudget.ca

Budget ConsultationFiscalandEconomicForecast

2009/10 2010/11 2011/12 2012/13 2013/14

AvailableRevenues ($millions)

- - 650 700 750

CommittedRevenues ($millions)

37,521 39,965 40,946 42,536 44,193

UpdatedFiveYearFiscalPlan ($millions)

(1,779) (1,380) (810) (130) 490

ExistingInfrastructureCommitments ($millions)

3,754 5,603 3,612 2,957 3,187

EconomicGrowth -2.3% 3.1% 2.2% 2.8% 2.8%

DebtRatio 15.9% 17.0% 18.1% 17.9% 17.6%

%

13%

12%

11% 10%

2.5%

10% Tax Cut

5% Tax Cut

2001 2005 2009 2012

25% Tax Cut

Additional 325,000 now pay no tax

Cut to ZERO

Income Tax Cuts

Corporate Tax Rate

Small Business Tax Rate

2001 2010$ 792$ 792 $ 91$ 91

Single Individualwith

$ 50,000Income

2001 2010$ 3,660 $ 2,200

Family of Fourwith

$ 70,000Income

2001 2010$ 4,552 $ 2,291

2001 2010$ 902 $ 0

$902reduction

$701reduction

$701reduction

$1,460reduction

$2,261reduction

Senior Couplewith

$ 40,000Income


$ 20,000Income

$25

$30

$35

$40

$45

02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14

Revenue dropped

Spending on key services protected

Investing In Our FutureEveryone has different priorities in an open society likeCanada,butmostpeoplewouldagreewithrecordlevelsofconstructiononschools,hospitals,housing,roads,bridgesandpublictransitacrosstheprovince.Becauseofthepositivepartnershiptheprovincialgovernmenthasestablishedwiththefederalgovernment,todaythereare850projectsthroughoutBritishColumbiageneratinganestimated34,000jobs.

Opening Canada’s Pacific GatewayBritishColumbiahasastrategicadvantageasCanada’sonlyPacificprovince.B.C.isAsia’sfrontdoortothecontinent.By2020,tradewithAsiacouldcreateasmanyas255,000jobs.OpportunitiesforexpandingtradewithAsiawillrequirenewinvestmentsandmorejobstobuildCanada’sPacificGateway.Tourism,digitalmedia,lifesciences,forestry,mining,energy,newbuildingproducts,newgreentechnologiesandfilmcreateopportunitiesforB.C.toleadCanadaintothe21stcentury.

Creating More JobsHigherproductivitymeanshigherpaycheques,morejobs,increasedinvestmentandtradewithinternationalcustomers.Itisoneofthereasonsthereareover400,000morejobsintheprovincetodaythantherewerein2001.

more take-Home paY for britisH columbians

Lowering TaxesThegovernmentiscommittedtocreatingacompetitivetaxregimethatwillhelpshapeB.C.’sfuture.Since2001,personalincometaxeshavebeenreducedbyatleast37%.Anindividualearning$50,000ayearpays$1,460lessinprovincialincometaxesthantheydidin2001.

B.C.hasthelowestpersonalprovincialincometaxesinCanadaforindividualsearningupto$118,000annually.

By2012,BritishColumbiawillhavethelowestcorporateincometaxrateoftheG7countries.Thatwillmaketraditionalindustrieslikeforestry,mining,energyandagriculturemorecompetitive.B.C.’ssmallbusinesstaxratewillbereducedtozerotoencourageinnovationandrewardsmallbusinessownersfortheirenormouscontributionstooureconomy.Targetedtaxcreditsforfilm,television,digitalmediaandincentivesforoilandgas,greentechnologiesandcleanenergyprojectscontinuetoencourageB.C.’snewestindustries.

Capitalizing On Our Clean Energy AdvantageB.C.isaclean-energypowerhouse.TheClean Energy ActensuresBritishColumbiawillbecomeelectricityself-sufficientandthatlowratesareprotectedforB.C.ratepayers.ThegovernmentisundertakingthelargestinvestmenteverinB.C.’scleanenergyassetsincludingtheSiteCCleanEnergyProjectthatwillcreateover35,000jobsandproduceenoughcleanelectricitytopowermorethan400,000homes.Renewablepowerproducerswillhavethetoolstocreatejobsineveryregion.

Tolearnmore,visitpowerofbc.ca

Strengthening PartnershipsForgingnewpartnershipshasmadeBritishColumbiastronger.ThegovernmentisbuildingaNewRelationshipwithFirstNationsandworkingwithlocalgovernmentsandthefederalgovernmenttoexpandpublictransit,reducecrimeandbuildnewcommunityinfrastructure.Agreementswithneighbouringprovincesareallowingpeopletoworkanddobusinessinmorethanoneprovince.ThegovernmentdevelopedeconomicandeducationaltiesacrossthePacificandpartneredwithourAmericanneighbourstoprotecttheenvironmentandthePacificOceanandbuildourregionaleconomy.

Leading Climate ActionBritishColumbiahastakenaggressiveactiontotackleclimatechange,includingsettinggreenhousegasreductiontargetsinlaw,implementingNorthAmerica’sfirstrevenue-neutralcarbonlevy,becomingthefirstCanadianpartnerintheWesternClimateInitiativetodesignacapandtradesystem,andworkingtobecomethefirstcarbon-neutralgovernmentinNorthAmerica.

Supporting Young FamiliesStartingthisSeptember,full-daykindergartenforfiveyear-oldswillhelpourchildrendeveloptheskillstheyneedforsuccessinschoolandinlife.Itwillalsohelpworkingfamilieswithchildcare.Thegovernmenthasincreasedchildcarefundingby$26millionoverthenextthreeyears—andthisyearthetotalchildcareinvestmentismorethan$300million.Thechildcaresubsidyprogramwillalsosupportmorethan28,000childreneachmonth.AndeverynewborninBritishColumbianowreceives$1,000investedtowardstheirpost-secondaryeducation.

Living Within Our MeansBritishColumbiahasearnedtopmarksfromtheworld’sleadingcredit-ratingagenciesfordevelopingafiscalframeworkthatensuresB.C.returnstoabalancedbudgetin2013whilemaintainingcoreservicessuchashealthcareandeducation.

returning to balanced budgets bY 2013/14 loWering personal and corporate income taXes

loWer personal income taXes

Source: Statistics Canada Provincial Economic Accounts (November, 2009); Statistics Canada July 1st population estimates (March, 2010)

$20,000

$21,500

$23,000

$24,500

$26,000

20082007200620052004200320022001

Real personal disposable income per capita (in 2002 dollars)

$4,482increase

%

13%

12%

11% 10%

2.5%

10% Tax Cut

5% Tax Cut

2001 2005 2009 2012

25% Tax Cut

Additional 325,000 now pay no tax

Cut to ZERO

Income Tax Cuts

Corporate Tax Rate

Small Business Tax Rate

2001 2010$ 792$ 792 $ 91$ 91


$ 50,000Income

2001 2010$ 3,660 $ 2,200

Family of Fourwith

$ 70,000Income

2001 2010$ 4,552 $ 2,291

2001 2010$ 902 $ 0

$902reduction

$701reduction

$701reduction

$1,460reduction

$2,261reduction

Senior Couplewith

$ 40,000Income


$ 20,000Income

$25

$30

$35

$40

$45

02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14

Revenue dropped

Spending on key services protected

Investing In Our FutureEveryone has different priorities in an open society likeCanada,butmostpeoplewouldagreewithrecordlevelsofconstructiononschools,hospitals,housing,roads,bridgesandpublictransitacrosstheprovince.Becauseofthepositivepartnershiptheprovincialgovernmenthasestablishedwiththefederalgovernment,todaythereare850projectsthroughoutBritishColumbiageneratinganestimated34,000jobs.

Opening Canada’s Pacific GatewayBritishColumbiahasastrategicadvantageasCanada’sonlyPacificprovince.B.C.isAsia’sfrontdoortothecontinent.By2020,tradewithAsiacouldcreateasmanyas255,000jobs.OpportunitiesforexpandingtradewithAsiawillrequirenewinvestmentsandmorejobstobuildCanada’sPacificGateway.Tourism,digitalmedia,lifesciences,forestry,mining,energy,newbuildingproducts,newgreentechnologiesandfilmcreateopportunitiesforB.C.toleadCanadaintothe21stcentury.

Creating More JobsHigherproductivitymeanshigherpaycheques,morejobs,increasedinvestmentandtradewithinternationalcustomers.Itisoneofthereasonsthereareover400,000morejobsintheprovincetodaythantherewerein2001.

more take-Home paY for britisH columbians

Lowering TaxesThegovernmentiscommittedtocreatingacompetitivetaxregimethatwillhelpshapeB.C.’sfuture.Since2001,personalincometaxeshavebeenreducedbyatleast37%.Anindividualearning$50,000ayearpays$1,460lessinprovincialincometaxesthantheydidin2001.

B.C.hasthelowestpersonalprovincialincometaxesinCanadaforindividualsearningupto$118,000annually.

By2012,BritishColumbiawillhavethelowestcorporateincometaxrateoftheG7countries.Thatwillmaketraditionalindustrieslikeforestry,mining,energyandagriculturemorecompetitive.B.C.’ssmallbusinesstaxratewillbereducedtozerotoencourageinnovationandrewardsmallbusinessownersfortheirenormouscontributionstooureconomy.Targetedtaxcreditsforfilm,television,digitalmediaandincentivesforoilandgas,greentechnologiesandcleanenergyprojectscontinuetoencourageB.C.’snewestindustries.

Capitalizing On Our Clean Energy AdvantageB.C.isaclean-energypowerhouse.TheClean Energy ActensuresBritishColumbiawillbecomeelectricityself-sufficientandthatlowratesareprotectedforB.C.ratepayers.ThegovernmentisundertakingthelargestinvestmenteverinB.C.’scleanenergyassetsincludingtheSiteCCleanEnergyProjectthatwillcreateover35,000jobsandproduceenoughcleanelectricitytopowermorethan400,000homes.Renewablepowerproducerswillhavethetoolstocreatejobsineveryregion.

Tolearnmore,visitpowerofbc.ca

Strengthening PartnershipsForgingnewpartnershipshasmadeBritishColumbiastronger.ThegovernmentisbuildingaNewRelationshipwithFirstNationsandworkingwithlocalgovernmentsandthefederalgovernmenttoexpandpublictransit,reducecrimeandbuildnewcommunityinfrastructure.Agreementswithneighbouringprovincesareallowingpeopletoworkanddobusinessinmorethanoneprovince.ThegovernmentdevelopedeconomicandeducationaltiesacrossthePacificandpartneredwithourAmericanneighbourstoprotecttheenvironmentandthePacificOceanandbuildourregionaleconomy.

Leading Climate ActionBritishColumbiahastakenaggressiveactiontotackleclimatechange,includingsettinggreenhousegasreductiontargetsinlaw,implementingNorthAmerica’sfirstrevenue-neutralcarbonlevy,becomingthefirstCanadianpartnerintheWesternClimateInitiativetodesignacapandtradesystem,andworkingtobecomethefirstcarbon-neutralgovernmentinNorthAmerica.

Supporting Young FamiliesStartingthisSeptember,full-daykindergartenforfiveyear-oldswillhelpourchildrendeveloptheskillstheyneedforsuccessinschoolandinlife.Itwillalsohelpworkingfamilieswithchildcare.Thegovernmenthasincreasedchildcarefundingby$26millionoverthenextthreeyears—andthisyearthetotalchildcareinvestmentismorethan$300million.Thechildcaresubsidyprogramwillalsosupportmorethan28,000childreneachmonth.AndeverynewborninBritishColumbianowreceives$1,000investedtowardstheirpost-secondaryeducation.

Living Within Our MeansBritishColumbiahasearnedtopmarksfromtheworld’sleadingcredit-ratingagenciesfordevelopingafiscalframeworkthatensuresB.C.returnstoabalancedbudgetin2013whilemaintainingcoreservicessuchashealthcareandeducation.

returning to balanced budgets bY 2013/14 loWering personal and corporate income taXes

loWer personal income taXes

Source: Statistics Canada Provincial Economic Accounts (November, 2009); Statistics Canada July 1st population estimates (March, 2010)

$20,000

$21,500

$23,000

$24,500

$26,000

20082007200620052004200320022001

Real personal disposable income per capita (in 2002 dollars)

$4,482increase

Building B.C. For Your Family

Tell Us Your Budget Priorities What’s most important to you? What are your priorities if government had additional resources:

• Fundnewprogramsandservices?• Reducethedebt?• Cutpersonalincometaxes?

TheSelectStandingCommitteeonFinanceandGovernment Services – an all party committee of theLegislativeAssembly–willholdprovince-wideconsultationsinSeptemberandOctobertoseektheviewsofBritishColumbians.

You can provide Your feedback bY:

• Appearingatoneofthescheduledpublichearings.Forlocationspleasevisit:

www.leg.bc.ca/budgetconsultations• Sendingawrittenresponsebyletteroremail• Submittinganaudioorvideofile

Record Funding For Health, Education And Social ServicesRecordfundingisnowbeingprovidedforhealth,education,childprotection,daycare,incomeassistance,housing,publicsafety,seniors’services,universities,collegesandothercriticalpublicservices.Infact,86%ofallnewspendingisgoingtowardshealthandeducation.

please send Your submission (including contact information) bY fridaY, october 15, 2010 to:

SelectStandingCommitteeonFinance and Government Services Room224,ParliamentBuildings Victoria,BritishColumbia V8V1X4Canada Phone:1-877-428-8337(toll-free) Phone:250-356-2933(collect) Fax:250-356-8172 Email:[email protected]

to find out more, visit bcbudget.ca

Budget ConsultationFiscalandEconomicForecast

2009/10 2010/11 2011/12 2012/13 2013/14

AvailableRevenues ($millions)

- - 650 700 750

CommittedRevenues ($millions)

37,521 39,965 40,946 42,536 44,193

UpdatedFiveYearFiscalPlan ($millions)

(1,779) (1,380) (810) (130) 490

ExistingInfrastructureCommitments ($millions)

3,754 5,603 3,612 2,957 3,187

EconomicGrowth -2.3% 3.1% 2.2% 2.8% 2.8%

DebtRatio 15.9% 17.0% 18.1% 17.9% 17.6%

Documents

Record Funding For Health, Education And Social Services