Gordon Campbell, MLA
Leader, BC Liberal Party
Box 28185
Harbour Centre
555 West Hastings Street
Vancouver, BC V6B 5L8



Dear Mr. Campbell,

Over the past four years, taxpayers in the province have enjoyed some measured success. Income tax cuts, regulatory reforms, new models for capital financing that protect taxpayers and two balanced budgets are commendable achievements on the part of your government. However, under your leadership, the province's debt has also hit historic highs, and taxpayers have handed over $9.5 billion just for interest payments on the debt.

According to the latest budget documents, the debt is forecast to grow to nearly $40 billion in 2008. That's almost a $6 billion higher than in 2001 and that's including the full forecast allowance, contingency and surplus going towards the debt.

Debt retirement does not happen by accident. It has to be deliberate, just as in the province of Alberta. Adding to the allure of no sales tax, Alberta is also the only province to be debt free. It is right next door, competing for talent and workers with B.C.

British Columbia can compete with Alberta, but it must do more than simply balance the books. The only way to offer more choice, more opportunity and more resources to the next generation of taxpayers is to adopt a legislated debt repayment schedule.

The Canadian Taxpayers Federation submitted a proposed debt retirement plan to the finance committee during budget consultations last year. Unfortunately, the government chose to keep debt repayment outside the budgeting process, only committing to contribute each year's fiscal leftovers toward the debt.

As the debt continues to cost taxpayers more and further restrict the choices of government, it is crucial for any fiscally responsible government to include a debt repayment plan.

I recognize the elections are busy times, especially for the leader, but our organization as well as many British Columbia taxpayers would greatly appreciate if you could provide the Liberal debt strategy, including the need for a mandatory debt schedule.

Thank you for your time and prompt attention.


Sincerely,




Sara MacIntyre, BC Director
Canadian Taxpayers Federation