Insurance Corp. of B.C. faces uncertain future

Canada’s only mandatory insurance provider is digging a deep financial hole and the B.C. government is looking for answers

Insurance Corp. of B.C. faces uncertain futureIt’s no secret that the Insurance Corp. of British Columbia (ICBC) is under financial distress. But should it be saved? In 2016-17, it suffered its largest loss ever – $889 million, an amount equal to 18 per cent of its total premiums. What’s worse, it’s heading for an even larger $1.3 billion loss this year,…

The folly of embracing universal daycare

Quebec’s experience with government-subsidized daycare should serve as a warning for B.C.

The folly of embracing universal daycareThe recent British Columbia provincial budget makes it clear that the government is forging ahead with plans to pursue universal government-subsidized daycare. But B.C. is not the first to go down this path and there are lessons to be learned. While the 2018 budget didn’t explicitly call for $10-a-daycare – a key plank in the NDP’s…

B.C.’s budget cools the economic climate

The B.C. budget does little to improve the investment climate or mitigate the effects of policy changes emanating from the U.S.

B.C.’s budget cools the economic climateBy Charles Lammam Hugh MacIntyre The Fraser Institute The fact that the first full budget from B.C.’s new government includes major tax increases will likely go unnoticed by many – unfortunately. Instead, many economic commentators will focus on the government’s aim to balance the operating budget every year. A fiscal framework that avoids the deficit-financed…

B.C. at a fiscal crossroads

It can continue to pursue fiscal prudence or follow other provinces that are plagued by chronic shortfalls and ongoing budgetary challenges

B.C. at a fiscal crossroadsBy Charles Lammam and Hugh MacIntyre The Fraser Institute As the old cliché goes, if you don’t learn from past mistakes, you’re doomed to repeat them. But the opposite is also true – learning from previous successes can be as valuable. As it prepares to introduce its first full budget, British Columbia’s NDP government would do well…

Big spending, big problems on the horizon for B.C. government

Despite the promise of yet more new programs to come, there’s actually little room in the budget for more spending

Big spending, big problems on the horizon for B.C. governmentBy Charles Lammam and Milagros Palacios The Fraser Institute British Columbia’s new government has tabled its first budget, proposing to ramp up spending and shrink last year’s $2.7-billion surplus to almost zero, despite enacting a host of economically-damaging tax increases that the NDP campaigned on. And the budget does’t include everything the New Democrats promised during the…

B.C. budget abandons any hope for efficient carbon tax

Subsidizing green projects with revenue from carbon taxes may be politically popular but it’s fundamentally misguided policy

B.C. budget abandons any hope for efficient carbon taxBy Kenneth P. Green, Elmira Aliakbari and Ashley Stedman The Fraser Institute In its first budget, B.C. Premier John Horgan’s government recently said it would raise the carbon tax rate by 66 per cent over the next four years. And it rejected revenue neutrality, undermining the case for an economically efficient carbon tax. British Columbia’s…

B.C.’s new government heads for a familiar debt trap

The New Democrats offer up a significant and impressive list of expenditures, with no clear plan how it will pay for them

B.C.’s new government heads for a familiar debt trapBritish Columbia’s NDP government has just treated residents to its first throne speech, followed by an interim budget to carry it through until February, which is the usual month for annual budgets. Looking at all the good things being promised, the budget makes one think of Christmas in September. The new government is being bountiful,…