Days before the provincial election is set to begin, the NDP have released their platform. Wrapped in moderate language, and sprinkled with vague promises of fiscal prudence the 73 page document should be sounding off some alarm bells for taxpayers.

To begin with, the NDP platform increases government spending above and beyond the massive hikes ushered in by the Liberals' in their most recent budget. Other commitments that are cause for concern include: bringing BC Ferries back under the thumb of politicians, more red-tape and bureaucracy (re-creating a ministry of the environment and a ministry of women's equality), and industry specific corporate welfare, like the film industry's labour tax credits.

The platform also outlines a 37% reduction in the contingency fund, a near 20% reduction in the surplus and a full 50% reduction in the forecast allowance.

The surplus, contingency fund and forecast allowance are not only built-in cushions for unexpected revenue shortfalls (drops in the price of oil) or unplanned expenditures (SARS). But, they are also the only hope to keep the province's burdensome debt from ballooning out of control.

Even as the Liberals bulked up the contingency fund and forecast allowance, the debt still managed to grow $3 billion since 2001. The pace of growth has slowed since these cushions have been thrown on the debt each year, but the trend remains: upwards and onwards.

The NDP plan would not only shrink the so called fiscal 'wriggle room' but would significantly reduce debt payments each year, guaranteeing the province's crushing debt load will become even more burdensome for future generations.

In fact, even if the full forecast allowance, surplus and contingency fund is applied to the debt, as planned in the Liberal budget, the debt is still on track to grow by another $3 billion to $39 billion by 2007/8. This is why British Columbia needs to adopt a legislated debt retirement plan. If debt management is left to accident rather than design, than the likelihood of making any progress is near laughable. It's like having a mortgage with no set monthly payment and no amortization period.

Just look at Alberta. It's no accident that the first province to be debt free is also the only province to adopt a legislated debt repayment schedule. Instead of throwing scarce resources at debt servicing costs, Alberta now has more choices than ever before. Their next generation of taxpayers will be spared the burden of paying for yesterday's spendthrift decisions.

It is not unrealistic for BC to plan to be debt free too! But debt retirement can only happen if it is deliberate, it doesn't happen unless it becomes part of the budgeting process. The Liberals debt payment plan has been guided by default rather than foresight and as a result the debt has grown. It's time the legislature set some goals beyond the limited term of MLA's and offered a fresh start for the province's next crop of taxpayers.

Debt repayment is not even recognized as a priority in the NDP platform. Yet, everyday taxpayers hand over $4 million just to service the province's debt. That's $1.5 billion a year that isn't available for health, education or the environment. If the NDP wants to 'build a stronger future' and 'make life affordable,' then why not target the debt Repaying the debt is the first step in making affordable decisions and opening up choices for future generations. And a legislated debt retirement plan is the only realistic way to do it.