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Standard and Poor gives B.C. highest possible rating over budget and fiscal plan


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#1 Wetcoaster

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Posted 13 April 2013 - 10:15 AM

In the wake of the high rating given by the other two ratings services (Dominion Bond Rating and Moody's) S&P has accorded BC its triple A credit rating.

And why should this matter to taxpayers? Because the higher the rating, the less the cost of borrowing by the provincial government which saves taxpayers millions of dollars.

Only three provinces have this high a rating - BC, Alberta and Saskatchewan.

The common denominator? They are in the West and they do not have NDP governments. Saskatchewan like BC is governed by a conservative/liberal coalition party (the Saskatchewan Party) and Alberta is under the Progressive Conservatives.


Standard and Poor's Rating Services has cemented British Columbia's triple A credit rating, following similar credit-and-bond ratings from Dominion Bond Rating and Moody's.


S&P says it has reaffirmed the highest possible rating, citing strong budgetary flexibility and a fiscal plan designed to bring the province's operating budget back to balance.


B.C., Alberta and Saskatchewan are the only provinces with the triple-A stable rating.


S&P says it could revise its outlook to negative or lower the rating if tax-supported debt as a share of operating revenues continue to rise.


Finance Minister Mike de Jong says three top-level ratings coming so soon after Budget 2013 are proof his government's goal of balancing the budget has been well received and the fiscal plan is on course.


The triple-A rating saves taxpayers millions of dollars annually in borrowing costs.

http://www.vancouver...l#ixzz2QMbx7B4K

The danger of electing the Dix led BC NDP is that by raising taxes as announced and altering the fiscal plan, there is a significant danger that the rating could be downgraded and that means the cost of borrowing goes up and costs taxpayers millions - way more than any perceived tax savings by reverting to the PST from the HST.

And if you raise corporate taxes and reinstae the disastrous tax on financial institutions, you drive business and investment from BC leading to a compounding downward spiral as we saw the last time the BC NDP were in power.

Memo to Adrian Dix - capital is portable and investment will go where it is welcomed.

As the Tax and Spend Party (aka the BC NDP) have confirmed:



The New Democratic Party will fund its spending promises for the May 14 election with measures including higher taxes on businesses and the wealthy, reintroducing a tax on banks and credit unions, and expanding the province’s carbon tax.


The proposals will go toward generating an extra $2 billion over three years, said Bruce Ralston, the party’s long-standing finance critic and co-chair of its platform committee.

...


Those measures include: increasing the corporate income tax rate to 12 per cent from 11 per cent; reinstating a corporation capital tax on financial institutions; and increasing personal income taxes to 19 per cent for those making more than $150,000 a year.

...


Finance Minister Mike de Jong called the NDP’s overall plan bad for the province, saying it would send negative signals to the investment community.

“This is a bad choice, the kind we have seen in the past from the NDP,” he said.

“The tax increases in a variety of areas will ensure we go back to the days when investment fled or avoided British Columbia and when people fled or avoided British Columbia.”

De Jong said the plan would push up the province’s debt-to-GDP ratio, sparking a downgrade in the province’s credit rating.

“B.C.’s credit rating will be downgraded,” he said. “That is a certainty.”

Conservative Party leader John Cummins said the NDP is “living in a fantasy world, where tax increases on the very businesses that provide jobs to British Columbians somehow helps the economy.

“As if this job-killing tax increase on job-providers isn’t enough, the NDP also plans to raise income tax and expand the carbon tax, both of which will negatively impact jobs and the economy,” Cummins said in a news release.

http://www.vancouver...l#ixzz2QMdEVEuW


If you liked the Glen Clark led BC NDP you will love the Adrian Dix led BC NDP - just the same old discredited tax and spend polices that drove investment and people out of BC the last time the BC NDP were in power.

Edited by Wetcoaster, 13 April 2013 - 10:15 AM.

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#2 Gross-Misconduct

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Posted 13 April 2013 - 10:23 AM

Deceiving subject title. I thought this was about BC having the highest child poverty rate in Canada.

The BC Liberal party's priorities are keeping their Liberal insiders happy with corporate welfare programs in return for party donations.

The provincial debt has doubled since 2001. The year the BC Liars took power.
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#3 Dittohead

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Posted 13 April 2013 - 10:24 AM

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The NDP are Horrible and will be a disaster for BC if elected.
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#4 inane

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Posted 13 April 2013 - 10:30 AM

I love how the NDP are taxing socialists and the Liberals are free market lovers even though they both raise taxes.
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#5 Gross-Misconduct

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Posted 13 April 2013 - 10:30 AM

Btw, that phony "balanced" budget that Mike deJong regurgitated isn't fooling anyone.

Remember this beauty of a lie tabled before the last election?

In 2009, then-finance minister Colin Hansen tabled a pre-election budget with a $500-million deficit.
After voters went to the polls and put the Liberals back in Victoria, Hansen presented a new budget with a deficit of almost $3 billion.
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#6 Ghostsof1915

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Posted 13 April 2013 - 10:48 AM

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I'm sure if I had the ability to siphon off funds from ICBC and BC Hydro and raise rates that makes any bottom line look great.

Take out $300+ million that's coming from OUR insurance premiums each year to go into "general revenue", I'm sure the budget doesn't look quite as balanced.

The Lieberals are robbing Peter to pay Paul. The issue is, they are really robbing the taxpayers. Twice. Maybe put your politics aside and ask yourself critically is that what you want from government?

One that taxes you, and siphons money from the Utilities and Crown Corporations to provide a hidden revenue stream.
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#7 DIBdaQUIB

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Posted 13 April 2013 - 10:52 AM

I'm sure if I had the ability to siphon off funds from ICBC and BC Hydro and raise rates that makes any bottom line look great.

Take out $300+ million that's coming from OUR insurance premiums each year to go into "general revenue", I'm sure the budget doesn't look quite as balanced.

The Lieberals are robbing Peter to pay Paul. The issue is, they are really robbing the taxpayers. Twice. Maybe put your politics aside and ask yourself critically is that what you want from government?

One that taxes you, and siphons money from the Utilities and Crown Corporations to provide a hidden revenue stream.


So your solution is to replace a thief with organized crime?!!

EDIT: and to suggest this election is about integrity and honesty when the NDP is being represented by Adrian Dix is just laughable!!

Edited by DIBdaQUIB, 13 April 2013 - 11:00 AM.

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#8 EmployeeoftheMonth

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Posted 13 April 2013 - 10:59 AM

I love how the NDP are taxing socialists and the Liberals are free market lovers even though they both raise taxes.


Yeah it's a little funny isn't it.

It's one of the reason I shake my head when people get so irrationally anti one in favor of the other.
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#9 EmployeeoftheMonth

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Posted 13 April 2013 - 11:01 AM

So your solution is to replace a thief with organized crime?!!

EDIT: and to suggest this election is about integrity and honesty when the NDP is being represented by Adrian Dix is just laughable!!


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#10 Gross-Misconduct

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Posted 13 April 2013 - 11:07 AM

I'm sure if I had the ability to siphon off funds from ICBC and BC Hydro and raise rates that makes any bottom line look great.

Take out $300+ million that's coming from OUR insurance premiums each year to go into "general revenue", I'm sure the budget doesn't look quite as balanced.

The Lieberals are robbing Peter to pay Paul. The issue is, they are really robbing the taxpayers. Twice. Maybe put your politics aside and ask yourself critically is that what you want from government?

One that taxes you, and siphons money from the Utilities and Crown Corporations to provide a hidden revenue stream.


Don't forget the Liberals "balanced budget" relies on selling off 800 million of crown assets.

Sometime....in the future....maybe....when they get around to it....and they find some buyers....but for now the BUDGET IS BALANCED! :lol:
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#11 Perfect From Now On

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Posted 13 April 2013 - 11:18 AM

Btw, that phony "balanced" budget that Mike deJong regurgitated isn't fooling anyone.

Remember this beauty of a lie tabled before the last election?

In 2009, then-finance minister Colin Hansen tabled a pre-election budget with a $500-million deficit.
After voters went to the polls and put the Liberals back in Victoria, Hansen presented a new budget with a deficit of almost $3 billion.


Not to mention all our "contract obligations" meaning any money we've guaranteed towards P3s like the Portman, Canada Line, etc that conveniently don't get included in the budget.


Also once the liberals get booted out of office and the books get opened up, taxpayers will find out just how much we are in debt and this rating will plummet. Of course I'm sure some will try and blame the NDP for that.
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#12 Neil HD

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Posted 13 April 2013 - 11:30 AM

God, I hate choosing a party to vote for in this province.
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#13 Gross-Misconduct

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Posted 13 April 2013 - 11:48 AM

Not to mention all our "contract obligations" meaning any money we've guaranteed towards P3s like the Portman, Canada Line, etc that conveniently don't get included in the budget.


Also once the liberals get booted out of office and the books get opened up, taxpayers will find out just how much we are in debt and this rating will plummet. Of course I'm sure some will try and blame the NDP for that.


And don't forget BC Hydro. They've needed to put in incremental increases in rates to cover costs but Christy Clark and her thug Rich Coleman took unprecedented steps to muscle in on the BC Hydro board and tell them not to raise any rates.

Another bad idea cooked up by the Liberals so Christy could say "I'm keeping hydro rates low because families can't afford it" :rolleyes:

But of course once BC Hydro gets the muzzle taken off when the BC Liars are gone, the flood gates will open. We can all expect BC Hydro rates to jump. Thanks Christy.
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#14 DIBdaQUIB

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Posted 13 April 2013 - 12:11 PM

And don't forget BC Hydro. They've needed to put in incremental increases in rates to cover costs but Christy Clark and her thug Rich Coleman took unprecedented steps to muscle in on the BC Hydro board and tell them not to raise any rates.

Another bad idea cooked up by the Liberals so Christy could say "I'm keeping hydro rates low because families can't afford it" :rolleyes:

But of course once BC Hydro gets the muzzle taken off when the BC Liars are gone, the flood gates will open. We can all expect BC Hydro rates to jump. Thanks Christy.


Did you actually read the commentary and news in the OP"s post?! ...or are you just one more socialist who fels entitled to what others have earned?

The Liberals have been stupid, careless and less than honest in many cases. However, based on the potential to manage finances, I would still take them over an Adrian (the crimninal) Dix socialist government and apparently the world credit rating agencies agree.

Wealth re-distribition at the hands of socialist gevernments is bankrupting the free world but the "entitled" continure to blithely believe if we just tax someone with more than I have, all will be well.

Greece, here we come!
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#15 Common sense

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Posted 13 April 2013 - 12:26 PM

Deceiving subject title. I thought this was about BC having the highest child poverty rate in Canada.


Standard and Poor's is a financial services company that does analysis on, among other things, market finances and nation-state credit ratings. It is known around the world as one of the big 3 credit rating agencies.

Hardly deceiving to say the least.
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#16 Perfect From Now On

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Posted 13 April 2013 - 12:29 PM

And don't forget BC Hydro. They've needed to put in incremental increases in rates to cover costs but Christy Clark and her thug Rich Coleman took unprecedented steps to muscle in on the BC Hydro board and tell them not to raise any rates.

Another bad idea cooked up by the Liberals so Christy could say "I'm keeping hydro rates low because families can't afford it" :rolleyes:

But of course once BC Hydro gets the muzzle taken off when the BC Liars are gone, the flood gates will open. We can all expect BC Hydro rates to jump. Thanks Christy.


Well one reason BC Hydro is so in trouble is gordo's clean energy plan that barred BC hydro from producing additional power themselves and instead required them to buy it from IPPs at a much higher rate. Not surprisingly most of the IPPs that were awarded these contracts have made sizable donations to the liberal party.
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#17 bolt

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Posted 13 April 2013 - 12:52 PM

Here's just some of what the BC NDP achieved in government between 1991 and 2001:



Economy: The lowest unemployment in 20 years

greatest job growth in Canada 1991-2000 (up 24%)
economy grew 3.4% in 2000
booming film, tourism and high tech sectors
second or third lowest income taxes in Canada for ordinary families
income taxes cut $800 million since 1995
lowest small business income taxes in Canada
best small business growth in Canada 1991-2000 (6.8% a year)
second lowest provincial debt per person
books balanced, last three budgets
second highest average wage in Canada ($17.48 an hour)
highest minimum wage in Canada
third lowest Hydro rates in North America and no increase since 1993
car insurance rates among lowest in Canada (no increase since 1996)
Health Care: Increased health funding every year since 1991.

BC is the only province that did not cut health care funding in 1990s
health budget increased by almost $1 billion in 2001 to fund new hospital equipment, train and recruit additional nurses and doctors
four new cancer clinics since 1991
best screening mammography program in Canada
best cancer recovery rate in Canada
most comprehensive health coverage of any province (including chiropractors, physical therapists, naturopaths, massage therapists, eye exams and podiatry)
one of the most extensive Pharmacare programs in Canada
a world leader in protecting kids from tobacco
guaranteed choice on abortion for BC women
innovative new BC HealthGuide Handbook and NurseLine
Environment: The best record in North America.

first in North America to reach UN goal of 12% protected parks and wilderness
created Tatshenshini-Alsek and 345 new protected areas and park additions since 1992
worked with communities, First Nations, companies, unions and environmentalists to protect coastal (Great Bear) rain forest
2.5 billion trees planted in ten years
moratorium on grizzly bear hunting, and Khutzeymateen grizzly bear sanctuary
toughest forest practices rules in North America ensured sustainable forestry and access to international markets
new laws protected fish-bearing streams
urban salmon habitat program restored salmon runs
cut chlorine discharge from pulp mills by 80%
Green Economy Initiative promoted innovative environmental technology
Eco-tourism strategy
2,500 km of recreational forest trails built
10,000 km of damaging logging roads removed
Advanced Education: From second worst to second best in Canada.

tuition fees cut 5% in 2001, after five-year freeze
BC tuition fees 44% lower than Alberta, 46% lower than Ontario
three new universities (Northern BC, Royal Roads, Tech BC)
40,000 new post-secondary student spaces since 1992
most comprehensive student assistance programs in Canada
5,025 additional post-secondary spaces and
3,150 more apprenticeship spaces in 2001
five community colleges designated as University Colleges
participation rate in post secondary education improved from second worst in Canada in 1991 to second in 2001 (after Quebec)
Children: A strong start for BC kids.

lower class sizes in Grades 1 - 3 improved reading and writing skills
a new school was built every 19 days
136,000 new spaces and 5,423 classrooms were added since 1991
only province that did not reduce education funding in 1990s
4,000 additional teachers hired since 1991
658 portables removed since 1998
school lunch program helped kids in need
heritage language program in 150 schools offered 26 languages including Chinese, Punjabi and aboriginal languages
before and after school care program launched in 2001 helped 19,000 kids
lowest child poverty rate in Canada after PEI
BC child care was ranked best in Canada (Vancouver Sun, Sept.26, 2000)
Social Justice: Fairness and respect for all.

eliminated provincial income tax for 100,000 low-income British Columbians
one of only two provinces that continued to build social housing (6,500 units completed, 275 planned for Woodward's Building/Downtown Eastside)
BC Family Bonus helped low and modest income families
strengthened human rights legislation
public and private sector pension benefits extended to common-law and same sex spouses
pay equity law worked to end wage discrimination against women
improved occupational health and safety standards
anti-scab law protected workers' rights
balanced Labour Code reduced days lost to strikes/lockouts and ensured fair union certification process
finalized the Nisga'a Treaty - Canada's first modern treaty
commitment to negotiating land claims, not courts and referenda


In May 2001, after ten years of making real progress for ordinary people in B.C., the NDP was defeated by the provincial Liberal party. Since that time, many British Columbians have been hurt by the Liberal government's mean-spirited and uncaring approach -- an approach that broke key election promises, cut health and education, neglected the needs of seniors, children and the most vulnerable people in B.C., and left average families paying more taxes and fees but getting fewer services in return. Despite an economy made prosperous by cyclical commodity prices and low interest rates, too many British Columbians were being left behind.

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#18 Gross-Misconduct

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Posted 13 April 2013 - 12:59 PM

Did you actually read the commentary and news in the OP"s post?! ...or are you just one more socialist who fels entitled to what others have earned?

The Liberals have been stupid, careless and less than honest in many cases. However, based on the potential to manage finances, I would still take them over an Adrian (the crimninal) Dix socialist government and apparently the world credit rating agencies agree.

Wealth re-distribition at the hands of socialist gevernments is bankrupting the free world but the "entitled" continure to blithely believe if we just tax someone with more than I have, all will be well.

Greece, here we come!


Liberal playbook chapter 1 : Anyone pointing out the BC Liberals mistakes must be a socialist who feels entitled :lol:

Easy big guy. I don't know you and you don't know me so ease up on the cliches and rhetoric.

And I don't know what your disjointed rant had to do with my post.

I'll say it again. Follow me. I pointed out that the Liberals interfered with the BC Hydro board which is suppose to make decisions independent of government and told them not to raise Hydro rates. Then Christy came out and took a bow saying how she great she is because she won't allow Hydro rates to go up because "Families can't afford it"

So now I'm saying, instead of smaller Hydro rate increases that were suppose to happen, brace yourself for a huge Hydro increase in rates all at thanks to the BC Liberals.

Simple, follow along.
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#19 DIBdaQUIB

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Posted 13 April 2013 - 01:00 PM

Here's just some of what the BC NDP achieved in government between 1991 and 2001:



Economy: The lowest unemployment in 20 years

greatest job growth in Canada 1991-2000 (up 24%)
economy grew 3.4% in 2000
booming film, tourism and high tech sectors
second or third lowest income taxes in Canada for ordinary families
income taxes cut $800 million since 1995
lowest small business income taxes in Canada
best small business growth in Canada 1991-2000 (6.8% a year)
second lowest provincial debt per person
books balanced, last three budgets
second highest average wage in Canada ($17.48 an hour)
highest minimum wage in Canada
third lowest Hydro rates in North America and no increase since 1993
car insurance rates among lowest in Canada (no increase since 1996)
Health Care: Increased health funding every year since 1991.

BC is the only province that did not cut health care funding in 1990s
health budget increased by almost $1 billion in 2001 to fund new hospital equipment, train and recruit additional nurses and doctors
four new cancer clinics since 1991
best screening mammography program in Canada
best cancer recovery rate in Canada
most comprehensive health coverage of any province (including chiropractors, physical therapists, naturopaths, massage therapists, eye exams and podiatry)
one of the most extensive Pharmacare programs in Canada
a world leader in protecting kids from tobacco
guaranteed choice on abortion for BC women
innovative new BC HealthGuide Handbook and NurseLine
Environment: The best record in North America.

first in North America to reach UN goal of 12% protected parks and wilderness
created Tatshenshini-Alsek and 345 new protected areas and park additions since 1992
worked with communities, First Nations, companies, unions and environmentalists to protect coastal (Great Bear) rain forest
2.5 billion trees planted in ten years
moratorium on grizzly bear hunting, and Khutzeymateen grizzly bear sanctuary
toughest forest practices rules in North America ensured sustainable forestry and access to international markets
new laws protected fish-bearing streams
urban salmon habitat program restored salmon runs
cut chlorine discharge from pulp mills by 80%
Green Economy Initiative promoted innovative environmental technology
Eco-tourism strategy
2,500 km of recreational forest trails built
10,000 km of damaging logging roads removed
Advanced Education: From second worst to second best in Canada.

tuition fees cut 5% in 2001, after five-year freeze
BC tuition fees 44% lower than Alberta, 46% lower than Ontario
three new universities (Northern BC, Royal Roads, Tech BC)
40,000 new post-secondary student spaces since 1992
most comprehensive student assistance programs in Canada
5,025 additional post-secondary spaces and
3,150 more apprenticeship spaces in 2001
five community colleges designated as University Colleges
participation rate in post secondary education improved from second worst in Canada in 1991 to second in 2001 (after Quebec)
Children: A strong start for BC kids.

lower class sizes in Grades 1 - 3 improved reading and writing skills
a new school was built every 19 days
136,000 new spaces and 5,423 classrooms were added since 1991
only province that did not reduce education funding in 1990s
4,000 additional teachers hired since 1991
658 portables removed since 1998
school lunch program helped kids in need
heritage language program in 150 schools offered 26 languages including Chinese, Punjabi and aboriginal languages
before and after school care program launched in 2001 helped 19,000 kids
lowest child poverty rate in Canada after PEI
BC child care was ranked best in Canada (Vancouver Sun, Sept.26, 2000)
Social Justice: Fairness and respect for all.

eliminated provincial income tax for 100,000 low-income British Columbians
one of only two provinces that continued to build social housing (6,500 units completed, 275 planned for Woodward's Building/Downtown Eastside)
BC Family Bonus helped low and modest income families
strengthened human rights legislation
public and private sector pension benefits extended to common-law and same sex spouses
pay equity law worked to end wage discrimination against women
improved occupational health and safety standards
anti-scab law protected workers' rights
balanced Labour Code reduced days lost to strikes/lockouts and ensured fair union certification process
finalized the Nisga'a Treaty - Canada's first modern treaty
commitment to negotiating land claims, not courts and referenda


In May 2001, after ten years of making real progress for ordinary people in B.C., the NDP was defeated by the provincial Liberal party. Since that time, many British Columbians have been hurt by the Liberal government's mean-spirited and uncaring approach -- an approach that broke key election promises, cut health and education, neglected the needs of seniors, children and the most vulnerable people in B.C., and left average families paying more taxes and fees but getting fewer services in return. Despite an economy made prosperous by cyclical commodity prices and low interest rates, too many British Columbians were being left behind.


Yup... Spent beyond theri means during a world-wide economic boom and transferred massive amounts of wealth to their supporters and, to quote "making real progress for ordinary people"! What exactly does thi mean and who are these "ordinary people". It's this very class system belief and that the "ordinary people" (i.e NDP supporters) feel entitled to a better deal based on taking from others who have earned and often sacrificed much to achieve what they have that makes the NDP and all socialist governments dangerous and has led to the ruin of every socialist economic state in history.

As has been proven throughout history, socialist government eventuyally always leads to everyone being poor and when the government can't tax the rich (because ther aren't any left) it goes bankrupt!

Keep drinking the socialist kool-aid.
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#20 inane

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Posted 13 April 2013 - 01:03 PM

Liberal playbook chapter 1 : Anyone pointing out the BC Liberals mistakes must be a socialist who feels entitled :lol:


I know, what is with that?
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#21 DIBdaQUIB

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Posted 13 April 2013 - 01:04 PM

Liberal playbook chapter 1 : Anyone pointing out the BC Liberals mistakes must be a socialist who feels entitled :lol:

Easy big guy. I don't know you and you don't know me so ease up on the cliches and rhetoric.

And I don't know what your disjointed rant had to do with my post.

I'll say it again. Follow me. I pointed out that the Liberals interfered with the BC Hydro board which is suppose to make decisions independent of government and told them not to raise Hydro rates. Then Christy came out and took a bow saying how she great she is because she won't allow Hydro rates to go up because "Families can't afford it"

So now I'm saying, instead of smaller Hydro rate increases that were suppose to happen, brace yourself for a huge Hydro increase in rates all at thanks to the BC Liberals.

Simple, follow along.


Read my post again fella. I acknowledged the LIberals short-comings and antics. So ,is the Hydro interference Christy's equivalent of Clarke's Fast Ferry fiasco?

If you think the NDP will do things better on the honesty and economic front, I honestly can't help you.
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#22 Gross-Misconduct

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Posted 13 April 2013 - 01:04 PM

I know, what is with that?


Easier than facing the truth about the BC Liars.

Edited by debluvscanucks, 13 April 2013 - 01:54 PM.

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#23 inane

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Posted 13 April 2013 - 01:06 PM

Read my post again fella. I acknowledged the LIberals short-comings and antics. So ,is the Hydro interference Christy's equivalent of Clarke's Fast Ferry fiasco?

If you think the NDP will do things better on the honesty and economic front, I honestly can't help you.


Why does everything boil down to short term economics?
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#24 Gross-Misconduct

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Posted 13 April 2013 - 01:07 PM

Read my post again fella. I acknowledged the LIberals short-comings and antics. So ,is the Hydro interference Christy's equivalent of Clarke's Fast Ferry fiasco?

If you think the NDP will do things better on the honesty and economic front, I honestly can't help you.


You mean Glen Clark? Back in the 90's :lol:

Glen Clark's not here man. And buy a calendar, it's 2013. Christy Clark is running for premier. Remember?
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#25 DIBdaQUIB

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Posted 13 April 2013 - 01:44 PM

You mean Glen Clark? Back in the 90's :lol:

Glen Clark's not here man. And buy a calendar, it's 2013. Christy Clark is running for premier. Remember?


So is Adrian Dix! You know, the NDP leader who admitted lieing and falsifiying documents. Should be a hoot to see what he can do as premiere. At least we know going in, he's dishonest.
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#26 bolt

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Posted 13 April 2013 - 01:52 PM

So is Adrian Dix! You know, the NDP leader who admitted lieing and falsifiying documents. Should be a hoot to see what he can do as premiere. At least we know going in, he's dishonest.


Oh so we should vote for the liberals who lie and screwed most of the province over, at least we know going in, their dishonest and will continue to screw us over.
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#27 iwtl

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Posted 13 April 2013 - 01:53 PM

For us to loose 33 thousand jobs in the last 18 months and 13 thousand alone last month on top of being at the top for child poverty really begs the morality of the credit rating. Sure if we taxed workers only at 90% and not one penny in business tax - paying off the debt faster - they would call the province financial gods - despite wiping out the province in the process.

Much of the bc liberal budget relies on hypothetical prices on an asset sell off coupled with tax increases. As the only difference at this point is that the Ndp won't include hypothetical asset sell
Offs as part of their budget - the rating should be the same under either of them.

The best credit rating in the world means nothing when it was achieved off the backs of just the workers. Not one of those 33 thousand unemployed are sharing the joy on this - the credit rating won't pay thier bills and nor does it feed their families.

What do you tell that many unemployed - thanks for giving it all so we can win that race to the bottom ?

Edited by iwtl, 13 April 2013 - 01:55 PM.

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#28 bolt

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Posted 13 April 2013 - 02:05 PM

I wonder how the liberal kool aid drinkers could explain how the liberals went from almost owning every seat in the legislature to an almost certain landslide loss this spring? Maybe their not so good after all? What went so wrong?
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#29 nuckin_futz

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Posted 13 April 2013 - 02:15 PM

Standard and Poor's is a financial services company that does analysis on, among other things, market finances and nation-state credit ratings. It is known around the world as one of the big 3 credit rating agencies.


This is the same Standard and Poor's that knowingly overrated subprime and other mortgage securities as AAA when they knew it was toxic garbage, thus helping financial houses peddle this crap. In the process defrauding investors such as governments, pension funds, municipalities and individuals worldwide.

The "Big 3" have no credibility. The only ratings agency that seems to have an ounce of morality is Egan Jones.


For us to loose 33 thousand jobs in the last 18 months and 13 thousand alone last month on top of being at the top for child poverty really begs the morality of the credit rating.


The morality (and criminality) of said rating agency is being questioned in court by the DOJ who is seeking $5 billion dollars in damages in their fraud complaint.


I wonder how the liberal kool aid drinkers could explain how the liberals went from almost owning every seat in the legislature to an almost certain landslide loss this spring? Maybe their not so good after all? What went so wrong?


Nothing wrong with Koolaid. OH YEAH
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#30 thedestroyerofworlds

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Posted 13 April 2013 - 02:30 PM

In the wake of the high rating given by the other two ratings services (Dominion Bond Rating and Moody's) S&P has accorded BC its triple A credit rating.

And why should this matter to taxpayers? Because the higher the rating, the less the cost of borrowing by the provincial government which saves taxpayers millions of dollars.

Only three provinces have this high a rating - BC, Alberta and Saskatchewan.

The common denominator? They are in the West and they do not have NDP governments. Saskatchewan like BC is governed by a conservative/liberal coalition party (the Saskatchewan Party) and Alberta is under the Progressive Conservatives.


If you liked the Glen Clark led BC NDP you will love the Adrian Dix led BC NDP - just the same old discredited tax and spend polices that drove investment and people out of BC the last time the BC NDP were in power.


Really, record prices for oil, gold, silver, etc.. Tumbler Ridge reopening. New mines opening because of record prices have nothing to do with it. As for back east, a depressed manufacturing sector has NOTHING to do with their poor ratings.

NOPE, its who is in power. That's all that matters.

Edited by debluvscanucks, 14 April 2013 - 07:28 AM.
Removed personal attack

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