‘But B.C. has twice revised downward this year’s budget forecast, most recently projecting a $265-million surplus on a $47-billion fiscal plan. Even if the surplus grows unexpectedly — as it did last year when $184 million turned to $1.7 billion by the end of the year — Finance Minister Mike de Jong has said the money goes first to paying off B.C.’s debt.
Economic experts predict B.C. could book a larger-than-expected surplus this year, but not by much, said Jock Finlayson, executive vice-president of the B.C. Business Council.’
This is part of what Rob Shaw, reporter for the Vancouer Sun reported today.
He is duped , or wants to dream like other so called experts.
BC has a surplus on current account . Not on the budget.
The budget is composed of the current account( every day expenses, operating account) and the capital account( new roads, bridges, schools, hospitals , other building etc.). Add these two together as any right minded economist must do and you have a deficit.
The Province is spending more dollars this year than the number of dollars it is taking in .
That is deficit.
