Wednesday, July 25, 2012

Would You Let This Government Manage Your Kid's Lemonade Stand?


Stenographers everywhere are trumpeting how, HST bribe-payback aside, the Campbell/Clark/Falcon government actually lost less money than they predicted they would a few months ago.

But here's the thing.....

Someone who knows what they are doing who has actually examined the numbers disagrees.

And that person is British Columbia's Auditor-General, Mr. John Doyle, as reported by the Cluffie-Free Division of the CBC:

...The B.C. government said Wednesday morning the province posted a $1.8-billion deficit for the 2011/12 fiscal year, in part because of a $1.6-billion repayment to the federal government for axing the HST.
But provincial auditor general John Doyle says parts of the province’s financial summary don’t follow Canadian Generally Accepted Accounting Principles (GAAP).
The impact on the bottom line, according to Doyle, is there is a larger deficit than has been stated by government.
"If the summary financial statements were prepared fully in accordance with GAAP, the recorded deficit for the year would have been $520 million higher at $2.36 billion," said Doyle...

Go figure.



North Van's Grumps said...

Included with the Budget announcement today was another report that the "B.C. government has established new restraints for executive compensation at Crown corporations,..."

Funny, back on October 24, 2002 via a BC Liberal Caucus REPORT they did that already, and they did by doing this:

It will also ensure greater openness and protection for taxpayers by requiring that compensation plans be approved by the Minister of Finance, and that individual contracts be fully disclosed to the public.

Index of the New Era BC Liberal Caucus REPORTS

October 24, 2002 Report

Which means that each and every Finance Minister, all the way from Gary Farrel-Collins... or just plain old Gary Collins, to Carole Taylor to Not on my Radar Hansen to Kevin Falcon HAVE OKAYED the Spending spree, okay.

Anonymous said...

Great comment NVG...
you said it all for me