VANCOUVER, BC: The Canadian Taxpayers Federation (CTF) National Debt Clock stopped in Vancouver today to highlight British Columbia's burgeoning public debt load, part of an 8,900-kilometre journey to Ottawa to remind politicians that you can't borrow your way to prosperity.
"Gordon Campbell never promised to raise our debt from $34 billion in 2001 when was elected premier, to $47 billion this year. Nor did he share any plans to boost the debt to $60 billion by 2014," said Thomas. "But that's his plan for British Columbia, written in his final B.C. budget."
Considering the increase in the province’s debt it’s not surprising that interest costs will reach $2.1 billion in the coming year, or $535 for every man, woman, and child in British Columbia.
“Unless we do something, starting two years from now, interest alone on the debt will cost $615 per British Columbian. That’s real money that has to come from somebody. And if you don’t know who that somebody is," Thomas added, "you’re about to find out."
The Canadian Taxpayers Federation is calling on all leadership candidates of all B.C. political parties to commit now to stop the debt clock, balance the province's budget and begin immediately to pay down debt.
“We want to see leadership across the political spectrum to stand up and commit to addressing the serious issue that is our provincial debt,” continued Thomas. “Leadership is about making tough choices and longer we wait to address the problem, the choices get even tougher.”
The large aluminum clock which measures 7 feet high and 12 feet long, displays both the per second increase in public debt and the per person figure. A customized trailer has been built for the tour which allows for a rolling display of the clock.
The National Debt Clock is scheduled to visit nine provinces, wrapping up in Halifax the last week of March 2011. The clock has changeable face plates and in many provinces the CTF plans to dedicate a day to displaying and discussing respective provincial debts.
The budget for the campaign is $64,633 with half allocated to equipment including the clock constructed at OES Scoreboards in London, Ontario (an official supplier to the NBA) and the remainder toward costs associated with taking the clock across Canada. Donations to the CTF are not tax deductible.
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Contact:
BC Director – Gregory Thomas (604) 999-3319 cell
Federal Director – Kevin Gaudet (416) 725-0501 cell
New Development Director – Courtenay Vermeulen (604) 908-0283 cell
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