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ARTICLE · 04 MARCH 2013

Budget: Balanced But At What Cost?

Blake, Cassels & Graydon LLP
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The B.C. Minister of Finance Michael de Jong has recently tabled the B.C. provincial budget for the 2013/2014 fiscal year.

CanadaTax
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On February 19, 2013, B.C. Minister of Finance Michael de Jong tabled the B.C. provincial budget for the 2013/2014 fiscal year (Budget 2013). After a projected budget deficit of C$1.2-billion for the 2012/2013 fiscal year, Budget 2013 forecasts a return to balanced budgets with surpluses of C$197-million in 2013/2014, C$211-million in 2014/2015 and C$460-million in 2015/2016, to be achieved through a combination of tax rates increases, spending controls, asset sales and economic growth. As may be expected, Budget 2013 was likely influenced by both politics and policy coming as it does just three months before the provincial election scheduled to take place on May 14.

Tax Highlights of Budget 2013

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