With Ottawa gearing up for more pandemic-driven spending and B.C. about to distribute a second round of payments to households with income up to $175,000, soaring debt at all levels of government has business people concerned.

91裸聊视频淲e91裸聊视频檙e going to indenture generations here if we91裸聊视频檙e not careful,91裸聊视频� said Greg D91裸聊视频橝vignon, CEO of the Business Council of B.C.

BCBC released an Ipsos Public Affairs survey this week showing 79 per cent of respondents concerned that B.C. Premier John Horgan91裸聊视频檚 campaign promises are going to lead to higher taxes and debt.

Speaking after his first post-election cabinet meeting Dec. 2, Horgan defended his key election promise to send out $1,000 to households and $500 to individuals. The B.C. legislature is being called into a brief session next week to authorize the additional borrowing, with the current-year deficit already near $13 billion and next year91裸聊视频檚 budget still to come.

91裸聊视频淚t91裸聊视频檚 prudent to do it because it91裸聊视频檚 putting dollars into people91裸聊视频檚 pockets so they can continue to get through the most challenging time British Columbians have ever known,91裸聊视频� Horgan said. 91裸聊视频淭his is going to be means tested, it91裸聊视频檚 going to be low-income families and individuals who will get access to resources that they wouldn91裸聊视频檛 have had otherwise.91裸聊视频�

The 91裸聊视频渕eans test91裸聊视频� was partially revealed in the NDP campaign platform, after Horgan added the payments to counter a B.C. Liberal promise to suspend sales tax next year. The one-time direct payment goes to families with annual income under $125,000, 91裸聊视频渨ith a sliding scale up to $175,000.91裸聊视频� For single individuals, the 91裸聊视频渟liding scale91裸聊视频� reduces $500 payments from $62,000 to $87,000 income.

Legislation to be tabled next week will show the actual reductions for higher income earners, and whether any test of lost income is to be used.

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D91裸聊视频橝vignon notes that B.C. residents have already collected $9 billion in Canada Emergency Relief Benefit (CERB) payments, the second highest of any province. Federal spending has been highest among developed countries, pushing average income up 11 per cent even as the economy contracted.

Meanwhile, B.C.91裸聊视频檚 economic growth before the pandemic was driven almost entirely by energy projects.

91裸聊视频淚f not for LNG Canada, Site C, Trans Mountain pipeline and some office towers in Vancouver and Victoria, we would have been essentially flat,91裸聊视频� he said.

Ravi Kahlon, B.C.91裸聊视频檚 new minister of jobs and economic recovery, pointed to latest Statistics Canada labour force survey as a sign that B.C. is coming out of the COVID-19 recession.

91裸聊视频淪ince the pandemic91裸聊视频檚 most severe impact on the economy in April, B.C. has had substantial job growth for seven consecutive months, bringing our total employment to 98.5 per cent of pre-pandemic levels,91裸聊视频� Kahlon said Friday. 91裸聊视频淭his is the highest job recovery rate of any of Canada91裸聊视频檚 four largest provinces.91裸聊视频�

tfletcher@blackpress.ca
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