VICTORIA: The BC division of the Canadian Taxpayers Federation (CTF) today released a study of balanced budget laws across Canada, and recommendations for the BC government's proposed new legislation.

"The NDP killed BC's first balanced budget law back in 1991. Congratulations to Premier Ujjal Dosanjh for recognizing that that was a mistake," said CTF-BC director Mark Milke.

The CTF analysis, Protecting Taxpayers, reviews balanced budget legislation across the country and outlines six critical pillars of effective balanced budget legislation:

Truth in Accounting

Legislation that covers all government entities

A schedule for debt elimination

Limits on new/higher taxes and spending

An enforcement mechanism, i.e. - financial penalties for politicians.

High threshold for amendment or repeal, preferably by voters.

"Six provinces and one territory have some form of balanced budget legislation," said CTF-BC director Mark Milke. "Mr Dosanjh and the NDP need to make sure their law has teeth."

Backgrounder: The CTF and Balanced Budget Laws

The Canadian Taxpayers Federation has long been an advocate of balanced budget laws. In the 1990s, CTF offices in Alberta, Saskatchewan, Manitoba and Ontario all drafted laws that formed the basis for balanced budget legislation later enacted in those provinces. In 1992 and 1996, the CTF also drafted a federal balanced budget law, though it has not yet been adopted.