(Vancouver) The provincial government has underestimated its revenues by $7.9 billion over the past four years and continues to low-ball projections. The government’s current “three-year fiscal plan” projects surpluses of just over $1 billion in the next two years. But more realistic estimates, using the Ministry of Finance’s own economic growth forecasts, show that the province can expect surpluses of $2.8 billion in 2006/07 and $3.9 billion in 2007/08.
Alternative budgets
OTTAWA—Today the Alternative Federal Budget released a detailed report card on the achievements of the 2004-05 Minority Parliament and awarded the Martin Minority an overall C grade for “some progress.”
The Hamm government releases its provincial budget today. The finance minister has already told us that it will be balanced. But this is not a particularly difficult task given increasing federal transfers and own-source revenue. The real challenge for the minister is how well he addresses the social and infrastructure deficits that have accumulated over the past decade.
TORONTO—Ontario’s fiscal capacity is currently unable to support the investments that are required to meet the needs of Ontarians, according to the 2005 Ontario Alternative Budget (OAB).
OTTAWA — Selon l’Alternative budgétaire pour le gouvernement fédéral en 2005 (ABGF), on estime que le gouvernement fédéral aura un surplus de 45 milliards de dollars au cours des trois prochaines années, une somme qui pourrait réduire de façon significative la pauvreté et les inégalités au Canada et mettre fin aux chaudes querelles en ce qui concerne les transferts de fonds aux provinces.