by Errol Black and Shauna MacKinnon
In a recent blog post we asked the question – Is It Time To Repeal Balanced-budget Legislation In Manitoba? We are pleased to hear that the NDP in B.C. is asking a similar question.
In a recent article in the Vancouver Sun, B.C NDP leader Adrian Dix questions the merit of balanced budget legislation, stating that while his government would aim to balance the books, “governments need to consider revenues, which can fluctuate drastically.”
The chief economist of B.C.s Central 1 Credit Union, is quoted in the Sun article as affirming the limits of balanced budget legislation. He states “A balanced budget (law), I suppose, imposes some discipline on [fiscal management]. But I still think it comes down to more fundamental questions that have to be asked as to the nature and the role of government in the economy and society.”
A provincial election in B. C. is scheduled for May 14, 2013. Recent polling shows the NDP to have a significant lead. Should they be elected we will watch closely to see what Dix’s government will do about balanced budget legislation.
And we’ll watch even more closely to see if Manitoba follows their lead.