There is a lack of financial planning for BC’s future: AG
Posted June 17, 2015 12:50 pm.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) BC’s Auditor General has found we have good reason to worry about our province’s financial future. A new report on fiscal sustainability finds the BC government isn’t planning for what could be a financially unstable future.
Climate change, aging infrastructure and mounting healthcare costs will all soon start hitting the bottom line. The number of people over the age of 65 in BC will have increased by 50 per cent by 2040. That means more of us will be retired and not contributing to the pot anymore, but they will require more services.
Auditor General Carol Bellringer says the provincial government currently budgets a few years into the future. “Because government’s financial planning is done on a three year cycle, government cannot demonstrate how decisions made today will result in a sustainable government in the future.”
The only recommendation calls on the government to start sharing with the public exactly how it is planning to prepare for all these extra expenses.
