BC VIEWS: Time to get smart or go broke

B.C.’s job market held steady in July, with unemployment at 7.3 per cent. The latest Statistics Canada job data were released as global financial markets teetered on the edge of another recession.

Public-sector union members gather at the B.C. legislature in 2005 in support of striking teachers. The BCTF was fined $500

VICTORIA – B.C.’s job market held steady in July, with unemployment at 7.3 per cent. The latest Statistics Canada job data were released as global financial markets teetered on the edge of another recession.

B.C. was last reminded of its vulnerability to world events in late 2008 and early 2009, when financial markets froze up and governments around the world started frantically borrowing to bail out major industries. There are still idle construction cranes around B.C., although the vital commodity markets have recovered.

It was the sickening skid in provincial revenues, which began to reveal itself during the 2009 election campaign, that triggered the B.C. government’s panicked grab for the harmonized sales tax and its transition fund. If blame is important to you, blame Stephen Harper for the HST, but please don’t believe Bill Vander Zalm and the NDP when they claim it was merely a political plot covered up with lies.

The truth is much scarier than the scare tactics of these political opportunists. Globalization isn’t optional, and there are lots of countries out there ready to beat us up and take our lunch money if we give them half a chance.

The Canadian and U.S. central banks have held interest rates near zero since the crisis. If something more goes wrong, they are “out of bullets,” as economists say.

Here’s another economic fact about the year 2011. For the first time in Canadian history, the majority of people with employer-supported pensions now work for government or its agencies, rather than the private sector.

Despite all the political blather about left and right, more spending versus less, government keeps growing. That’s true for Canada and for B.C., where government grew every year of the allegedly tight-fisted reign of Gordon Campbell.

There has been lots of bleating about HST on adult-sized clothing for children. Claiming your hubby’s clothes are actually for a bulky child may be the oldest scam in sales tax evasion.

This is an example of what economists call the paradox of public finance. Economists like consumption taxes because they’re difficult to avoid. Many taxpayers dislike them for the same reason.

This is the road that leads to Greece, where tax evasion is considered a civil right along with fat pay and pensions. The same population expects to go to university at little or no cost until they’re 30, and then retire at 55, with the whole apparatus somehow held up by the dwindling band of workers in between.

The latest contract demands of the B.C. Teachers’ Federation give a sense of their Greece-like isolation from reality. Lengthy paid leaves, yet more paid professional development days, oh, and a double-digit wage increase after the rest of the public service has accepted zero.

I attended the recent BCTF convention in Victoria, where this entitlement culture was on display. During a news conference about the BCTF’s many demands, someone stood behind Education Minister George Abbott and held up a sign for TV cameras that demanded “No Tankers.”

This was no campus radical slipped in from the street. It was a middle-aged BCTF delegate, one of many decrying the industrial economy we need to pay for their pensions.

B.C. aspires to be a shipbuilding economy but it can’t do shipping? According to our public sector union elites, we’re too precious to allow oil tankers in B.C.?

Apparently some have still failed to notice that oil tankers have been going up and down the coast for decades, and back and forth under the Lion’s Gate Bridge for years.

Tom Fletcher is legislative reporter and columnist for Black Press and BCLocalnews.com

twitter.com/tomfletcherbc

Just Posted

No parole for 12 years for Burns Lake man convicted of second degree murder

Judge said he did not believe Albert Giesbrecht’s claim his gun discharged accidentally

Snowfall warning continues for parts of B.C.’s Interior

First significant snowfall of the season prompts Environment Canada warning

Coastal GasLink receives first delivery of pipe sections

Company expects to begin welding and pipe laying in 2020

Northwest B.C. physician receives Medal of Good Citizenship Award

Dr. Peter Newbery was one of 18 people in B.C. to get provincial recognition

Northern Society for Domestic Peace remembers women killed in Montreal Massacre 30 years ago

Society will hand out 14 red roses, one for each of the victims, to women who stop by office today

VIDEO: Kenney lays out key demands for meeting with Trudeau

Alberta Premier Jason Kenney aims for clear signs of federal action on two-day Ottawa trip

Province sues over sailing incident that killed teen with disabilities

Gabriel Pollard, 16, died from injuries after marine lift failed

First Nations want Big Bar landslide cleared ASAP to allow fish passage

Leadership calling for urgent action and resources to remove obstruction on the Fraser

Assessed value of Lower Mainland homes expected to decrease in 2020

Other areas of province may see modest increases over last year’s values

Terrace SAR headquarters in last stretch of fundraising

$400,000 dollars needed to finish $1.4 million project

Chilliwack family’s therapy dog injured in hit and run

Miniature pit bull Fifty’s owner is a single mother facing close to $10,000 in vet bills

Cougar destroyed in Penticton area after mauling dog, killing cat

This is the first reported incident with a cougar this year in the Penticton area

Feds not enforcing standards on Hungarian duck imports, B.C. farmer says

‘You have no way of knowing what’s in the bag’

No reports yet of Canadians affected by New Zealand volcano eruption, feds say

Missing and injured included tourists from the U.S., China, Australia, Britain and Malaysia

Most Read