Record Funding For Health, Education And Social Services
4
Building B.C. For Your Family
Transcript of Record Funding For Health, Education And Social Services
Building B.C. For Your Family
Tell Us Your Budget Priorities What’s most important to you? What are your priorities if government had additional resources:
• Fundnewprogramsandservices?• Reducethedebt?• Cutpersonalincometaxes?
TheSelectStandingCommitteeonFinanceandGovernment Services – an all party committee of theLegislativeAssembly–willholdprovince-wideconsultationsinSeptemberandOctobertoseektheviewsofBritishColumbians.
You can provide Your feedback bY:
• Appearingatoneofthescheduledpublichearings.Forlocationspleasevisit:
www.leg.bc.ca/budgetconsultations• Sendingawrittenresponsebyletteroremail• Submittinganaudioorvideofile
Record Funding For Health, Education And Social ServicesRecordfundingisnowbeingprovidedforhealth,education,childprotection,daycare,incomeassistance,housing,publicsafety,seniors’services,universities,collegesandothercriticalpublicservices.Infact,86%ofallnewspendingisgoingtowardshealthandeducation.
please send Your submission (including contact information) bY fridaY, october 15, 2010 to:
SelectStandingCommitteeonFinance and Government Services Room224,ParliamentBuildings Victoria,BritishColumbia V8V1X4Canada Phone:1-877-428-8337(toll-free) Phone:250-356-2933(collect) Fax:250-356-8172 Email:[email protected]
to find out more, visit bcbudget.ca
Budget ConsultationFiscalandEconomicForecast
2009/10 2010/11 2011/12 2012/13 2013/14
AvailableRevenues ($millions)
- - 650 700 750
CommittedRevenues ($millions)
37,521 39,965 40,946 42,536 44,193
UpdatedFiveYearFiscalPlan ($millions)
(1,779) (1,380) (810) (130) 490
ExistingInfrastructureCommitments ($millions)
3,754 5,603 3,612 2,957 3,187
EconomicGrowth -2.3% 3.1% 2.2% 2.8% 2.8%
DebtRatio 15.9% 17.0% 18.1% 17.9% 17.6%
%
13%
12%
11% 10%
2.5%
10% Tax Cut
5% Tax Cut
2001 2005 2009 2012
25% Tax Cut
Additional 325,000 now pay no tax
Cut to ZERO
Income Tax Cuts
Corporate Tax Rate
Small Business Tax Rate
2001 2010$ 792$ 792 $ 91$ 91
Single Individualwith
$ 50,000Income
2001 2010$ 3,660 $ 2,200
Family of Fourwith
$ 70,000Income
2001 2010$ 4,552 $ 2,291
2001 2010$ 902 $ 0
$902reduction
$701reduction
$701reduction
$1,460reduction
$2,261reduction
Senior Couplewith
$ 40,000Income
Single Individualwith
$ 20,000Income
$25
$30
$35
$40
$45
02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14
Revenue dropped
Spending on key services protected
Investing In Our FutureEveryone has different priorities in an open society likeCanada,butmostpeoplewouldagreewithrecordlevelsofconstructiononschools,hospitals,housing,roads,bridgesandpublictransitacrosstheprovince.Becauseofthepositivepartnershiptheprovincialgovernmenthasestablishedwiththefederalgovernment,todaythereare850projectsthroughoutBritishColumbiageneratinganestimated34,000jobs.
Opening Canada’s Pacific GatewayBritishColumbiahasastrategicadvantageasCanada’sonlyPacificprovince.B.C.isAsia’sfrontdoortothecontinent.By2020,tradewithAsiacouldcreateasmanyas255,000jobs.OpportunitiesforexpandingtradewithAsiawillrequirenewinvestmentsandmorejobstobuildCanada’sPacificGateway.Tourism,digitalmedia,lifesciences,forestry,mining,energy,newbuildingproducts,newgreentechnologiesandfilmcreateopportunitiesforB.C.toleadCanadaintothe21stcentury.
Creating More JobsHigherproductivitymeanshigherpaycheques,morejobs,increasedinvestmentandtradewithinternationalcustomers.Itisoneofthereasonsthereareover400,000morejobsintheprovincetodaythantherewerein2001.
more take-Home paY for britisH columbians
Lowering TaxesThegovernmentiscommittedtocreatingacompetitivetaxregimethatwillhelpshapeB.C.’sfuture.Since2001,personalincometaxeshavebeenreducedbyatleast37%.Anindividualearning$50,000ayearpays$1,460lessinprovincialincometaxesthantheydidin2001.
B.C.hasthelowestpersonalprovincialincometaxesinCanadaforindividualsearningupto$118,000annually.
By2012,BritishColumbiawillhavethelowestcorporateincometaxrateoftheG7countries.Thatwillmaketraditionalindustrieslikeforestry,mining,energyandagriculturemorecompetitive.B.C.’ssmallbusinesstaxratewillbereducedtozerotoencourageinnovationandrewardsmallbusinessownersfortheirenormouscontributionstooureconomy.Targetedtaxcreditsforfilm,television,digitalmediaandincentivesforoilandgas,greentechnologiesandcleanenergyprojectscontinuetoencourageB.C.’snewestindustries.
Capitalizing On Our Clean Energy AdvantageB.C.isaclean-energypowerhouse.TheClean Energy ActensuresBritishColumbiawillbecomeelectricityself-sufficientandthatlowratesareprotectedforB.C.ratepayers.ThegovernmentisundertakingthelargestinvestmenteverinB.C.’scleanenergyassetsincludingtheSiteCCleanEnergyProjectthatwillcreateover35,000jobsandproduceenoughcleanelectricitytopowermorethan400,000homes.Renewablepowerproducerswillhavethetoolstocreatejobsineveryregion.
Tolearnmore,visitpowerofbc.ca
Strengthening PartnershipsForgingnewpartnershipshasmadeBritishColumbiastronger.ThegovernmentisbuildingaNewRelationshipwithFirstNationsandworkingwithlocalgovernmentsandthefederalgovernmenttoexpandpublictransit,reducecrimeandbuildnewcommunityinfrastructure.Agreementswithneighbouringprovincesareallowingpeopletoworkanddobusinessinmorethanoneprovince.ThegovernmentdevelopedeconomicandeducationaltiesacrossthePacificandpartneredwithourAmericanneighbourstoprotecttheenvironmentandthePacificOceanandbuildourregionaleconomy.
Leading Climate ActionBritishColumbiahastakenaggressiveactiontotackleclimatechange,includingsettinggreenhousegasreductiontargetsinlaw,implementingNorthAmerica’sfirstrevenue-neutralcarbonlevy,becomingthefirstCanadianpartnerintheWesternClimateInitiativetodesignacapandtradesystem,andworkingtobecomethefirstcarbon-neutralgovernmentinNorthAmerica.
Supporting Young FamiliesStartingthisSeptember,full-daykindergartenforfiveyear-oldswillhelpourchildrendeveloptheskillstheyneedforsuccessinschoolandinlife.Itwillalsohelpworkingfamilieswithchildcare.Thegovernmenthasincreasedchildcarefundingby$26millionoverthenextthreeyears—andthisyearthetotalchildcareinvestmentismorethan$300million.Thechildcaresubsidyprogramwillalsosupportmorethan28,000childreneachmonth.AndeverynewborninBritishColumbianowreceives$1,000investedtowardstheirpost-secondaryeducation.
Living Within Our MeansBritishColumbiahasearnedtopmarksfromtheworld’sleadingcredit-ratingagenciesfordevelopingafiscalframeworkthatensuresB.C.returnstoabalancedbudgetin2013whilemaintainingcoreservicessuchashealthcareandeducation.
returning to balanced budgets bY 2013/14 loWering personal and corporate income taXes
loWer personal income taXes
Source: Statistics Canada Provincial Economic Accounts (November, 2009); Statistics Canada July 1st population estimates (March, 2010)
$20,000
$21,500
$23,000
$24,500
$26,000
20082007200620052004200320022001
Real personal disposable income per capita (in 2002 dollars)
$4,482increase
%
13%
12%
11% 10%
2.5%
10% Tax Cut
5% Tax Cut
2001 2005 2009 2012
25% Tax Cut
Additional 325,000 now pay no tax
Cut to ZERO
Income Tax Cuts
Corporate Tax Rate
Small Business Tax Rate
2001 2010$ 792$ 792 $ 91$ 91
Single Individualwith
$ 50,000Income
2001 2010$ 3,660 $ 2,200
Family of Fourwith
$ 70,000Income
2001 2010$ 4,552 $ 2,291
2001 2010$ 902 $ 0
$902reduction
$701reduction
$701reduction
$1,460reduction
$2,261reduction
Senior Couplewith
$ 40,000Income
Single Individualwith
$ 20,000Income
$25
$30
$35
$40
$45
02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14
Revenue dropped
Spending on key services protected
Investing In Our FutureEveryone has different priorities in an open society likeCanada,butmostpeoplewouldagreewithrecordlevelsofconstructiononschools,hospitals,housing,roads,bridgesandpublictransitacrosstheprovince.Becauseofthepositivepartnershiptheprovincialgovernmenthasestablishedwiththefederalgovernment,todaythereare850projectsthroughoutBritishColumbiageneratinganestimated34,000jobs.
Opening Canada’s Pacific GatewayBritishColumbiahasastrategicadvantageasCanada’sonlyPacificprovince.B.C.isAsia’sfrontdoortothecontinent.By2020,tradewithAsiacouldcreateasmanyas255,000jobs.OpportunitiesforexpandingtradewithAsiawillrequirenewinvestmentsandmorejobstobuildCanada’sPacificGateway.Tourism,digitalmedia,lifesciences,forestry,mining,energy,newbuildingproducts,newgreentechnologiesandfilmcreateopportunitiesforB.C.toleadCanadaintothe21stcentury.
Creating More JobsHigherproductivitymeanshigherpaycheques,morejobs,increasedinvestmentandtradewithinternationalcustomers.Itisoneofthereasonsthereareover400,000morejobsintheprovincetodaythantherewerein2001.
more take-Home paY for britisH columbians
Lowering TaxesThegovernmentiscommittedtocreatingacompetitivetaxregimethatwillhelpshapeB.C.’sfuture.Since2001,personalincometaxeshavebeenreducedbyatleast37%.Anindividualearning$50,000ayearpays$1,460lessinprovincialincometaxesthantheydidin2001.
B.C.hasthelowestpersonalprovincialincometaxesinCanadaforindividualsearningupto$118,000annually.
By2012,BritishColumbiawillhavethelowestcorporateincometaxrateoftheG7countries.Thatwillmaketraditionalindustrieslikeforestry,mining,energyandagriculturemorecompetitive.B.C.’ssmallbusinesstaxratewillbereducedtozerotoencourageinnovationandrewardsmallbusinessownersfortheirenormouscontributionstooureconomy.Targetedtaxcreditsforfilm,television,digitalmediaandincentivesforoilandgas,greentechnologiesandcleanenergyprojectscontinuetoencourageB.C.’snewestindustries.
Capitalizing On Our Clean Energy AdvantageB.C.isaclean-energypowerhouse.TheClean Energy ActensuresBritishColumbiawillbecomeelectricityself-sufficientandthatlowratesareprotectedforB.C.ratepayers.ThegovernmentisundertakingthelargestinvestmenteverinB.C.’scleanenergyassetsincludingtheSiteCCleanEnergyProjectthatwillcreateover35,000jobsandproduceenoughcleanelectricitytopowermorethan400,000homes.Renewablepowerproducerswillhavethetoolstocreatejobsineveryregion.
Tolearnmore,visitpowerofbc.ca
Strengthening PartnershipsForgingnewpartnershipshasmadeBritishColumbiastronger.ThegovernmentisbuildingaNewRelationshipwithFirstNationsandworkingwithlocalgovernmentsandthefederalgovernmenttoexpandpublictransit,reducecrimeandbuildnewcommunityinfrastructure.Agreementswithneighbouringprovincesareallowingpeopletoworkanddobusinessinmorethanoneprovince.ThegovernmentdevelopedeconomicandeducationaltiesacrossthePacificandpartneredwithourAmericanneighbourstoprotecttheenvironmentandthePacificOceanandbuildourregionaleconomy.
Leading Climate ActionBritishColumbiahastakenaggressiveactiontotackleclimatechange,includingsettinggreenhousegasreductiontargetsinlaw,implementingNorthAmerica’sfirstrevenue-neutralcarbonlevy,becomingthefirstCanadianpartnerintheWesternClimateInitiativetodesignacapandtradesystem,andworkingtobecomethefirstcarbon-neutralgovernmentinNorthAmerica.
Supporting Young FamiliesStartingthisSeptember,full-daykindergartenforfiveyear-oldswillhelpourchildrendeveloptheskillstheyneedforsuccessinschoolandinlife.Itwillalsohelpworkingfamilieswithchildcare.Thegovernmenthasincreasedchildcarefundingby$26millionoverthenextthreeyears—andthisyearthetotalchildcareinvestmentismorethan$300million.Thechildcaresubsidyprogramwillalsosupportmorethan28,000childreneachmonth.AndeverynewborninBritishColumbianowreceives$1,000investedtowardstheirpost-secondaryeducation.
Living Within Our MeansBritishColumbiahasearnedtopmarksfromtheworld’sleadingcredit-ratingagenciesfordevelopingafiscalframeworkthatensuresB.C.returnstoabalancedbudgetin2013whilemaintainingcoreservicessuchashealthcareandeducation.
returning to balanced budgets bY 2013/14 loWering personal and corporate income taXes
loWer personal income taXes
Source: Statistics Canada Provincial Economic Accounts (November, 2009); Statistics Canada July 1st population estimates (March, 2010)
$20,000
$21,500
$23,000
$24,500
$26,000
20082007200620052004200320022001
Real personal disposable income per capita (in 2002 dollars)
$4,482increase
Building B.C. For Your Family
Tell Us Your Budget Priorities What’s most important to you? What are your priorities if government had additional resources:
• Fundnewprogramsandservices?• Reducethedebt?• Cutpersonalincometaxes?
TheSelectStandingCommitteeonFinanceandGovernment Services – an all party committee of theLegislativeAssembly–willholdprovince-wideconsultationsinSeptemberandOctobertoseektheviewsofBritishColumbians.
You can provide Your feedback bY:
• Appearingatoneofthescheduledpublichearings.Forlocationspleasevisit:
www.leg.bc.ca/budgetconsultations• Sendingawrittenresponsebyletteroremail• Submittinganaudioorvideofile
Record Funding For Health, Education And Social ServicesRecordfundingisnowbeingprovidedforhealth,education,childprotection,daycare,incomeassistance,housing,publicsafety,seniors’services,universities,collegesandothercriticalpublicservices.Infact,86%ofallnewspendingisgoingtowardshealthandeducation.
please send Your submission (including contact information) bY fridaY, october 15, 2010 to:
SelectStandingCommitteeonFinance and Government Services Room224,ParliamentBuildings Victoria,BritishColumbia V8V1X4Canada Phone:1-877-428-8337(toll-free) Phone:250-356-2933(collect) Fax:250-356-8172 Email:[email protected]
to find out more, visit bcbudget.ca
Budget ConsultationFiscalandEconomicForecast
2009/10 2010/11 2011/12 2012/13 2013/14
AvailableRevenues ($millions)
- - 650 700 750
CommittedRevenues ($millions)
37,521 39,965 40,946 42,536 44,193
UpdatedFiveYearFiscalPlan ($millions)
(1,779) (1,380) (810) (130) 490
ExistingInfrastructureCommitments ($millions)
3,754 5,603 3,612 2,957 3,187
EconomicGrowth -2.3% 3.1% 2.2% 2.8% 2.8%
DebtRatio 15.9% 17.0% 18.1% 17.9% 17.6%
