Here is a brief look at British Columbia

1. Study – Change of
Government – British
Columbia
Paul Young CPA, CGA
Date: July 31, 2019

2. Paul Young - Bio
• CPA, CGA
• Financial Solutions
• SME – Business Process Changes
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Financial Solutions
• SME – Supply Chain Management
• Academia – Advance Accounting, Public
Finance and Advanced Management
Systems
Contact information:
Paul_Young_CGA@Hotmail.com

3. Agenda
 GDP
 Employment
 Fiscal Management
 LNG
 Carbon Taxation
 CFIB / Red Tape
 Key policies

4. British Colombia GDP
Source – Stats Canada
Actual GDP by Year
Source – RBC Economics

5. British Colombia – GDP - Outlook
Source – RBC Economics http://www.rbc.com/economics/economic-reports/provincial-economic-
forecasts.html
While the housing market downturn grabs most
headlines these days, a $4 billion surge in business
capi-tal spending is the bigger story this year. It will
keep BC near the top of the provincial growth rankings.
• BC Competitiveness - https://www.bcbusiness.ca/Is-BC-
Losing-Its-Edge
• The ramping up of con-struction of the $40-billion LNG
Canada megaproject in Kitimat, in particular, will
generate a groundswell of activity in the province

6. BC Employment
Source -
https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid
=1410035501#timeframe

7. Softwood Lumber Risks
Source - http://www.cknw.com/2017/04/25/province-making-changes-to-cope-with-softwood-lumber-tariffs-b-c-premier/
“It is our hope that one day our markets will be so diversified that we don’t need
another softwood deal with the United States.”
She says exports to China are up more than 2,000 per cent, and there is strong
progress in other markets. Overall, market for softwood lumber is $3B for B.C.
When push comes to shove, however, the negotiations will be done on a federal
level. Despite that, Clark says B.C. will be playing a role in those.
“The federal government recognizes that British Columbia, as the exporter of 60
per cent of the softwood volume in Canada, is the leader
of all the provinces in these negotiations.”
The Premier goes on to say she’ll continue to work with the federal government
to support B.C. workers and minimize job losses.
“In the meantime, we are going to work to make sure B.C. mills can stay open
despite the impact of U.S. protectionist and punitive measures.”
CKNW News – Premier Christy Clark – April 25, 2017

8. British Colombia Budget
Source – BMO Economics
Comment:
• Budget Surplus
• BC spend less per
capita than
Alberta. Alberta
has NDP/Notley

9. 2017 Election issues for B.C.
Source - http://vancouversun.com/news/local-news/a-primer-on-some-of-the-main-issues-in-the-b-c-
election-on-may-9
Issue NDP Liberals
Daycare $10/Day for daycare
Pipelines Against For
Education More emphasis on
Education
Liberals say they
fixed the issues in the
classroom
Jobs NDP only focus is on
LNG, not other
sectors
Liberals focus on
many industries
including forestry,
aerospace, food
production, etc.
Minimum Wage $15.00 Incremental changes

10. Quebec daycare model failed
Source -http://www.huffingtonpost.ca/2015/09/29/child-care-subsidy_n_8178184.html
• Not enough spots
• Spots do not go to people that need the spots
• Daycare model in Quebec does not work

11. NDP manifesto
Source - http://www.theglobeandmail.com/news/politics/leap-manifesto-
what-is-it-and-what-could-it-mean-for-the-ndpsfuture/article29583796/
The Leap Manifesto is a document that calls for a
radical restructuring of the economy as Canada
swiftly moves toward ending the use of fossil fuels.
It was released last September in the midst of the
federal election campaign.
• You cannot go from carbon-based economy to zero based
economy overnight
• Fossil fuels are part of many industries like forestry, food
production, aerospace, metals, etc
• Pipelines provide taxation through property taxes,
construction jobs, port jobs etc.

12. NDP / Alberta
 NDP cannot managed an economy. Notley
introduced new taxation on oil and gas which is
not helping attract business
 NDP grew the public sector through hiring. It is
private sector business that drives GDP.
 NDP spending is out of control. NDP spends more
per capita in AB on government than BC does in
terms funding social programs
Source
https://www.therebel.media/rutherford_notley_s_feud_with_wall_a_w
ay_to_deflect_from_ndp_failures

13. NDP/MB
 http://www.torontosun.com/2015/08/25/manitobas-warning-dont-vote-ndp
What Canadians should know about an NDP administration is it believes
government should play a significant role in our lives. The cost of that —
including the empire-building and bureaucratic growth that goes along with an
expanding government — is not a concern for the NDP. Its overarching
philosophy is that if taxpayers have to dig deeper into their pockets to pay for
more government, that’s the price they must pay to live in a socialistic society.
Under an NDP government, Manitoba pays the second-highest income taxes in
Canada.
The NDP raised the retail sales tax to 8% in 2013 after promising not to do so.
They expanded the PST three times while in office, raised the gas tax and increased
the Land Transfer Tax.
They have created a structural deficit they can’t get out of, increased the provincial
debt to record levels and Manitoba’s credit rating has been downgraded.
This is the approach the federal NDP want to bring to Parliament.

14. NDP/Bob Rae
Source - http://calgaryherald.com/news/politics/notley-says-her-ndp-
government-will-avoid-bob-raes-mistakes
She says an Alberta NDP government will in no way resemble NDP premier
Bob Rae’s controversial regime in Ontario between 1990 and 1995.
Asked what lesson she can take from Rae’s one-term government, she
retorted: “Don’t be like them.”
“I find it irritating that the NDP, we always have to account for the Bob Rae
government’s fiscal challenges,” she told the Herald editorial board late in
the campaign.
“Ontario, it was bad, but the NDP always gets tarred for it, even though Bob
Rae has since moved over to the Liberals.”
• Notley increase debt and deficit, but little happen in
job creation
• Oil sector has rebounded but not investment and
jobs
• Notley did not learn her lesson from Rae

15. People voted for change in Ottawa and what happen?
https://www.slideshare.net/paulyoungcga/is-the-liberal-party-and-justin-trudeau-
helping-the-middle-class-in-canada

16. Justin Trudeau on BC
 https://www.canadianmanufacturing.com/manufacturing/trudeau-says-british-columbians-
really-get-it-amid-conservative-wave-236662/
 BC gets it.
 Are you serious? BC has some of highest real estate prices in all of Canada.
https://www.cbc.ca/news/canada/british-columbia/home-prices-vancouver-twice-what-
millennials-can-afford-1.5172388

 BC carbon tax was never revenue neutral - https://business.financialpost.com/opinion/b-
c-tricked-canadian-politicians-into-believing-its-carbon-tax-policy-works-it-doesnt

17. Blog – LNG
 Congrats to First Nations and NS working together to get LNG project approved!
https://www.canadianmanufacturing.com/manufacturing/nova-scotia-liquefied-
natural-gas-project-signs-agreements-with-unions-mikmaq-227235/
@JustinTrudeau
This how things get done!
@emilia_suze @MichelleRempel

 @justintrudeau
 You are not about balance when it comes to economy or you would have focus on
getting goods out of the ground and to market!
 https://www.slideshare.net/paulyoungcga/2019-election-natural-resources-lng-
canada-july-2019

18. Carbon Tax
 One thing is consistent with the Liberals is they never look at all angles when it
comes their tax policies. The liberals feel by dangling tax credits will more than
offset the cost of their new carbon taxation policies.
 https://www.slideshare.net/paulyoungcga/2019-election-anatomy-of-gasoline-prices-
canada-july-2019
 Carbon Tax / BC
 “B.C.’s latest emissions data mark years of failure to reduce emissions by more than
a token amount,” said Sierra Club in January 2018. “Ten years after the previous
government legislated the target to reduce emissions by 33 per cent from 2007
levels by 2020 we are essentially in the same place we started.”
 The B.C. carbon tax started at $10 per tonne back in 2008, with the government
promising to stop it at $30 per tonne. Guess what? It’s $35 per tonne now, and the
government is promising to jack it up to $50 per tonne by 2021.
 Taxpayers in the rest of Canada shouldn’t be tricked the way British Columbians
were tricked. Calling the carbon tax “revenue neutral” and bribing taxpayers with
their own money via rebate cheques is just a ploy”
 http://www.kelownadailycourier.ca/opinion/article_03609b40-f739-11e8-ba09-
8b5e2850191a.html

19. CFIB Red Tape
Source - https://www.cfib-fcei.ca/en/advocacy/red-
tape-report-card

20. Questions to ask yourself
 How is the NDP going to pay for the $10 daycare?
 BC already has carbon pricing which is not carbon neutral.
NDP is against fossil fuels. So, how will NDP create the
conditions to attract jobs?
 NDP has always bumped up size of government which has
done little to improve delivery of program spending. Do you
want the AB model in BC?
 BC is key port area for exports. For each $1B of exports
there are 5,500 jobs. So, if NDP is against expansion on
natural resources then where will the jobs come from in
terms of job creation?