FOR IMMEDIATE RELEASE
CRANBROOK CHAMBER OF COMMERCE MEDIA RELEASE
Cranbrook Chamber Welcomes Balanced Budget
Cranbrook, February 17, 2015
The Cranbrook Chamber joins the BC Chamber and Chambers of Commerce from across the province to congratulate the B.C. government for tabling a third consecutive balanced budget.
Cranbrook Chamber President Dave Struthers summarized the budget as, “Not a ground breaking day but good for an organization like ours.”
“We are the only jurisdiction in Canada that can lay claim to a balanced budget. Our debt to GDP is the envy of the majority of the western world. Our credit rating remains very strong providing significantly less expensive borrowing for capital project across requisite to advance the province,” said Struthers
Budget 2015 forecasts an $879 million surplus for 2014/15, with a further surplus of $284 million in 2015/16. Budget 2015 includes an $800 million payment toward operating debt reduction.
Budget 2015 also includes several modest initiatives that will support on-going economic development across the province, including: an extension to the BC Interactive Digital Media and the Mining Flow-Through Share tax credit measures, a three-year extension of the BC Training Tax Credit, and an increase to the Small Business Venture Capital tax credit.
“The Cranbrook Chamber in concert with the BC Chamber has consistently called on government to balance its books and we are pleased to see this on-going commitment to fiscal discipline’” said Chamber Executive Director David D. Hull
“This budget continues to control spending while making modest investments into measures to help grow the economy,” said Hull. “We are able to balance successive budgets and are seeing the benefits as government puts part of projected surpluses towards paying off our operating debt,” added Hull.
BC Chamber President and CEO John Winter offered, “During this time of on-going global economic uncertainty, it is important for government to continue to live within its means while finding affordable ways to drive our medium and long-term economic prosperity by enhancing our competitiveness and productivity.”
Hull has seen and analyzed decades of provincial budgets being offered, “Budget 2015 is not flashy or ground breaking and that is not a bad thing.”
“The government is providing strong fiscal management with some flexibility for future years all within a context of being conservative and responsible to the tax payers of BC. I will take rather boring, dry, and fiscally responsible over the converse any day,” said Hull.
David D. Hull
Cranbrook Chamber of Commerce
Office 250 426 5914
Cell 604 302 7212 24/7
Email [email protected]