VICTORIA: The BC Division of the Canadian Taxpayers Federation (CTF) today pointed out that Premier Glen Clark's claim that deficits protect healthcare and education is wishful thinking.

"On just taxpayer-supported debt, Alberta will spend $565 million less on debt interest this year than it did six years ago, while BC will spend $440 million more annually than it did six years ago," argued CTF-BC director Mark Milke.

"Mounting debt interest means more money for bondholders in New York, Tokyo and Toronto - and less money available for healthcare, education, and tax relief in British Columbia," noted Milke. "More deficits are equivalent to pouring dirt into a car's engine and plugging up the oil filter. Eventually you wear down the engine, much the same way as this current government wears down BC's economic engine with rising debt, excessive regulation, and high taxes."

"Since Mr. Clark became premier in 1996, BC's taxpayer-supported debt has increased by over $3 billion, and will be up over $6 billion by the next budget, while total provincial debt shows much the same trend," noted Milke.

"Mr. Clark is deluded if he thinks driving the province's finances more quickly over a cliff will in fact protect the contents of the vehicle - i.e. - core government programs and the potential for tax relief. Deficits have precisely the opposite effect," said Milke