The Jan. 13 issue of the Vancouver Sun offered a front-page article by Rob Shaw titled “B.C. Hydro paid most dividends using borrowed cash”. Even though the article covers payments going back to 1992, previous to the current provincial administration, most of the borrowing has happened over the last decade.
And considering our present government has been at the helm since 2001, an interesting excerpt from Mr. Shaw’s article is: “Bennet says it’s an unsustainable practice that he’s committed to change in 2018 — a year after the next provincial election.”
Now the “Bennet” referred to is B.C.’s current Minister of Energy. And he is part of the government that has been “governing” our provinice for over 13 years. A government elected, supposedly, because it was the best choice to “manage the economy”.
Then there’s the March 31, 2014 audit showing not only the increasing debt of the province, but the billions ($15.6) in B.C. Hydro debt, as well as the millions owed by the Pavillion Corp (the entity that controls both the Vancouver Convention Centre and the expensively-roofed B.C. Place).
As part of a sitcom this scenario could be considered amusing; in real life, not so much.