Taxes onerous as growth dwindles

Statistics Canada’s latest population projections do not bode well for B.C.’s future, on a number of counts.

Statistics Canada’s latest population projections do not bode well for B.C.’s future, on a number of counts.

The federal agency has B.C. falling to  fourth-largest province in the country, with Alberta moving ahead of it to third. This is projected to happen over the next 20 years or so.

B.C. will still be growing — but at a lesser rate than Alberta is projected to grow. Perhaps more dramatically though, B.C.’s population of seniors is expected to grow the most, to 27 per cent of the population by 2038. This is a higher-than-usual percentage of seniors, who for the most part will not be working and contributing to long-term economic growth. At the same time, they will put added pressure on the health care system.

This is not to say that seniors are bad for a province or an economy. It is simply that their needs bring new challenges to an economy which is already hobbled by minimal growth, and to a province where every resource-based proposal is met with a fury of opposition.

A province cannot thrive long-term without economic growth. Simple population growth is not enough.

B.C. is already a very expensive place to live. At the same time, few younger people have the opportunity to make really good incomes, and are thus handicapped from getting ahead.

Taxes in B.C. are already quite high, which is masked by the sleight-of-hand about low income tax rates. However, when the seven per cent PST, ICBC rates, ferry fares, BC Hydro rates (all of which are tax increases), TransLink taxes and MSP premiums are taken into account, taxes are quite onerous on many people already.

Low economic growth will inevitably lead to even higher taxes.

B.C. weather and scenery are great, but they don’t pay the bills.

-Victoria News

 

Just Posted

Contenders to return for Okanagan tour

Valdy, Gary Fjellgaard and Blu and Kelly Hopkins will perform at six venues

School District 83 reveals fall budget changes due to surplus funds

Extra staff, counselling and supports a top priority for additional funds

Columbia Shuswap Regional District establishing junior firefighter program

Aimed at youth 15-17 in Columbia Shuswap region to help with training and potential recruitment

Okanagan clinical team to research Alzheimer’s Disease drug

Disease-modifying medication study seeks participants

School District to offer online performing arts courses

Courses give students credit for extracurricular performance projects

Your morning news in 90: Oct. 19, 2018

Tune in for 90 seconds to get the top headlines for the Okanagan, Shuswap and Similkameen.

Letter: Transit, underpass question, housing, top issues for voter

I have lived in Salmon Arm for just over two years. On… Continue reading

LETTER: Focus on Trans-Canada should be a priority

In her letter in the Oct. 3 Observer, Sarah Weaver makes a… Continue reading

B.C. high school teacher faces sexual assault charges

A Mt. Boucherie teacher has been charged with child luring, sexual exploitation and sexual assault.

Fashion Fridays: You can never have enough shoes

Kim XO, lets you know the best online shopping tips during Fashion Fridays on the Black Press Media Network

Former B.C. cop sentenced to jail ‘in the community’ after caught in Creep Catchers sting

Dario Devic pleaded guilty after getting caught up in Surrey Creep Catcher sting in Whalley in 2016

5 races to watch in B.C.’s municipal elections this Saturday

This year’s election results across more than 160 cities in B.C. will start pouring in after polls close Saturday at 8 p.m.

Annual pace of inflation slows to 2.2 per cent in September: Statistics Canada

Statistics Canada said Friday the consumer price index in September was up 2.2 per cent from a year ago compared with a year-over-year increase of 2.8 per cent in August

Dog deaths in Lower Mainland may be tied to suspected mushroom poisoning: RCMP

Police have received reports in the last month about several dogs becoming ill after visiting a park in North Vancouver

Most Read