B.C.'s proposed Prosperity Fund is meant to capitalize on the future opportunities from natural gas development. If done correctly, the fund could be a huge benefit to both current and future British Columbians. As with many things though, the devil is in the details. Thankfully there are lessons to be learned, and avoided, from our neighbours, Alberta and Alaska.
Tuesday's provincial budget is supposed to present a plan to finally balance the books. But after four consecutive years in the red, British Columbians can't yet breathe a collective sigh of relief. Critically important is how Finance Minister Mike de Jong plans to eliminate the deficit. Will he take the path of tax increases or spending reductions? He would be wise to go with the latter. And this is why...
Legislative oversight is fundamental to good government. And with less and less of it, the government does more and more by decree. B.C. isn't well-served by that. In 2012, the B.C. legislature sat for 47 days. Among its numerous legislative duties: to debate and approve a $44-billion budget. Forty-seven days is simply insufficient to do that and everything else well.