The Terrace Standard, Wednesday, October 5, 2005 -

B.c. BUDGET CONSULTATIONS

‘This is an exciting time for British Columbia. There are
some important challenges, goals and opportunities

ahead - but we cannot afford to do everything at once.

We want to know what is important to you so we can
| work to meet your priorities.

"Building New Infrastructure

Important investments in roads, schools, universities, colleges and health. care
facilities worth more than $12.1 billion are planned over the next three years.,
Infrastructure investments are funded through new borrowing. The surplus i is.
used to reduce this new borrowing. When the surplus i is larger, the Province .

needs to borrow less and can

put more toward debt reduction. With a smaller

“surplus, the Province may need to borrow more.

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| Risks and Challenges

A balanced budget may be affected by international economic
slowdowns and natural disasters. That's why the Province set
aside a forecast allowance and a contingency fund to protect the
balanced budget from unexpected events. The forecast allowance
also covers potential wage and benefit i increases arising from the
next round of public sector bargaining.

Currently, 52 per cent of the Provincial budget goes to pay,

wages and benefits. A one per cent increase in wages and benefits
would mean $160 million less per year would be available to —
invest in other areas such as health care, education and public

. safety services.

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: Opportunities and Choices Ahead
_On February 21, 2006, the Province will table.

a balanced budget with an updated plan to”
keep it balanced.

In addition to the current fiscal plan surpluses,

the Province anticipates that revenue will:

increase by $600 million in 2008/09. These
resources could be available to. reinvest in
areas that meet British Columbians’ priorities.
While recognizing that British Columbia

cannot afford to do everything: at once, what -.
| opportunities do. you see ahead? |

Whatis Your Vision?

The Select Standing Committee on Finance and Government Services;
which includes both government and opposition members of the.
Legislative Assembly, will hold public meetings to seek the views

of British Columbians. The Committee will present a report on its
consultations by November 15, 2005.

To provide your views to the Committee, you can send a written
submission or letter by October 23, 2005 to:

- Select Standing Committee on Finance
and Government Services

Parliament Buildings, Room 224

Victoria, BC VvaVv 1X4

250 356- 2933 (collect) or] -877-428- 8337

BRITISH
COLUMBIA.