Spending on Olympics bad business
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Updated: October 02, 2009 4:30 PM
How many times have we been told that the provincial Liberals with their (self-claimed) business experience would be better for our economy and well-being than other parties?
Having heard this mantra often enough, it seems a lot of us started to believe it.
The genesis of B.C.’s fiscal problems commenced with awarding the Olympic Games. Almost every new expenditure after that date was either directly or indirectly geared for the three-week party for the rich and famous, a few privileged athletes and self-aggrandizement of those in power.
B.C. wouldn’t be in such a deficit state if sound business principles were adhered to. In a historically cyclical economy during good times you put money away for the inevitable downturns. On the contrary, the Campbell government spent like drunken sailors on mega vanity projects, as well as on the Sea to Sky Highway to enable their friends a more timely access to their up-market properties, and on the Olympic events.
My hope is for a February 2010 shortage of two commodities – snow and cold – and an excess of rain and egg on the face.
T.B. Mortimer
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