After seven months and a historic deficit, NDP still have no plan for recovery

BC Liberal Finance Critic Shirley Bond is calling on the government to take real action on economic recovery after today’s First Quarterly Report confirmed that B.C. faces an uncertain economic future, while the Finance Minister has yet to unveil a comprehensive economic plan.

PRINCE GEORGE (September 10, 2020) – BC Liberal Finance Critic Shirley Bond is calling on the government to take real action on economic recovery after today’s First Quarterly Report confirmed that B.C. faces an uncertain economic future, while the Finance Minister has yet to unveil a comprehensive economic plan.

“While concerning, the financials we saw today were not a surprise given the profound impacts that our province has felt as a result of the COVID-19 pandemic. However, what is surprising, and incredibly disappointing, is that the Finance Minister has still not produced a real plan for economic recovery,” said Bond. “Our province has 149,000 fewer jobs than it did in February, we have a $12.8 billion deficit — the largest in B.C.’s history—and household income growth has decreased by 3.3 per cent. These numbers are staggering and it is long past time the NDP come up with an effective plan to create jobs and grow the economy.”

Additionally, the Finance Minister’s Quarterly Updated indicated that average home prices in B.C. are higher than ever, capital spending is down $364 million, and business investment growth has declined by 10.7 per cent.

“This update has made it clear that the NDP government can no longer drag its feet on producing a plan that is so essential to our province’s future,” said Bond. “The NDP have had seven months to start putting together a vision and strategy for economic recovery, and yet the Minister’s briefing did not contain anything close to a plan. It is time for John Horgan and the NDP to stop worrying about their political futures and focus on providing a safe and financially secure future for the people of B.C.”