Author: Michael Holden

As a think tank dedicated to improving the long-term prosperity of western Canada, the Canada West Foundation is paying close attention to the signals being sent by the region’s provincial governments and the federal government in their 2013/14 budgets.

On February 15, the Foundation laid out five areas we hoped to see in the British Columbia budget in our budget preview.

The 2013/14 Budget Analysis assesses the degree to which progress is being made in these areas and presents four key findings:

  1. British Columbians are best served when provincial budgets emphasize long-term planning and strategic investments rather than have a singular focus on fiscal balance.
  2. New investments in education and skills training will help the province meet future labour needs.
  3. Business tax increases are intended to raise revenues in the short term but could undermine the province’s competitive position down the road.
  4. The BC government missed an opportunity to set the parameters and objectives of a Prosperity Fund and to begin the transition to saving non-renewable resource revenues.