Liberal MLA Richard Lee welcomed Tuesday's balanced B.C. budget, which promises millions in surpluses over the three-year fiscal plan.
"The highlight, of course, is a balanced budget," said the Burnaby-North MLA. "It's not easy to do, but I think (Finance Minister Mike de Jong) has managed to put the numbers together, as well as have quite a bit of programs in terms of the families, for health care and legislation, as well as investing for our future."
According to the Liberals, the three-year plan will balance the budget, work towards eliminating the deficit and bring in $197 million in surpluses for 2013-14, and $460 million in the third year. The Liberals plan on doing this by selling $625 million in surplus properties and assets and introducing targeted tax measures. The measures include raising the general corporate income tax rate from 10 to 11 per cent, and a 2.1 per cent personal income tax increase for people earning more than $150,000. The Liberals are also banking on $1.7 billion from net economic growth and another $1.1 billion in savings by keeping spending under control.
With spending at an annual 1.5 per cent over the next three years, Lee characterized the budget as "prudent."
"It's not a so-called election budget, because there are no new programs," he said. "It's focused on growing the economy, not growing the government."
The budget also sets aside $10.4 billion for capital spending on schools, infrastructure and hospitals.
Any money for Burnaby Hospital was noticeably absent for New Democrat MLA Raj Chouhan.
"Our hospital is in very bad shape. We need a new hospital, too," he told the NOW.
Chouhan questioned the Liberals' ability to balance the budget by selling $625 million in property and assets over the next two years.
"The Liberals' primary fix is to sell off our valuable lands and assets in a one-time fire sale. Never mind how short-sighted this is, they are booking revenue now on properties that have not yet been sold," he said. "Essentially, they're taking cheques to the bank before they're even written."
Chouhan also criticized the budget for lacking measures to provide affordable housing, something he says is an important issue in the Burnaby-Edmonds riding.
The provincial debt currently stands at $56 billion.
