Economic growth flows from prudent fiscal management
Through prudent fiscal management, and growing revenues fueled by our strong economy, we have dramatically reduced the burden of “taxpayer-supported debt” – or debt that can only be repaid by taxpayers. We have cut ‘operating debt’ nearly in half. That debt was accumulated over eight successive operating deficits in the 1990s and from the structural deficit that the NDP left behind. It’s dead-weight debt from chronic overspending that weakened our economy and our ability to deliver top quality services. We owe it to our children to reject that approach. We must responsibly manage taxpayers’ money to protect the services and supports we have today for future generations.
Our Platform calls for 100 per cent of all future surpluses to be used first to eliminate the operating debt. It also ensures that taxpayer-supported debt does not rise to levels that would jeopardize our province’s hard-won Triple-A credit rating. British Columbia and Alberta are the only provinces that currently enjoy that top credit rating. That has meant lower interest rates, lower borrowing costs and new savings that have been used to fund services for people, instead of paying interest to banks and lenders.
- Moody’s Investor Services
