B.C. Finance Minister Mike de Jong.

Budget surplus hits $2.24 billion, but B.C. braces for schools settlement

Finance minister Mike de Jong won't say how much of a hit is expected from teachers' court win

B.C.’s projected budget surplus has climbed further to an estimated $2.24 billion.

Finance Minister Mike de Jong released that number as part of a generally upbeat second quarter financial update Tuesday.

He cautioned B.C. is bracing for significantly higher education budget costs in the wake of a Supreme Court of Canada ruling in favour of the B.C. Teachers Federation on classroom size and composition requirements.

De Jong declined to provide an estimate.

“It would be presumptive on my part and the government’s part to lay out our figure or unilaterally state what we believe that figure will be,” he said.

“The fiscal plan is healthy and we are in a position to accommodate the results of the negotiation that is now underway.”

Asked if the improved budget could allow B.C. to further raise social assistance rates, de Jong said that will be a priority, but cautioned there’s no certainty a large government surplus will repeat each year.

“The landscape is littered with the carcasses of governments past and the deficits they incurred because assumptions were made that a present set of circumstances would repeat in perpetuity.”

He also noted that public sector workers will be receiving nearly one per cent more pay over and above their contractual wage increases under B.C.’s economic stability mandate dividend, because the province’s growth has exceeded benchmarks. The latest 0.35 per cent dividend, resulting from 3.3 per cent economic growth for B.C. in 2015, takes effect in February and is on top of a 0.45 per cent bump a year earlier.

B.C. has seen an increase of 71,400 jobs so far this year, up 3.1 per cent as of October.

De Jong was also asked to respond to the potential that U.S. president-elect Donald Trump’s administration may start a trade war.

More protectionist policy from American leaders would also hurt the U.S. at a time when that country needs more B.C. lumber to accommodate growth projections, de Jong said.

No advertising campaign is contemplated at this time, he said, but he did not rule out strenuous lobbying by B.C.

“We are going to have to ramp up in a strategic way to ensure that Americans themselves understand there’s a price to be paid for protectionism and that it is not just a price you inflict upon others.”

He noted the U.S. forest industry has already fired the first shot against B.C. softwood lumber imports, with a petition that could lead to an initial ruling as early as spring.

Just Posted

Prince Rupert lawyer awarded Queen’s counsel designation

Barry Zacharias is one of 28 lawyers to receive the award in B.C.

Prince Rupert draws its line for cannabis business

City council approved cannabis retail zone area on Dec. 10 after a public hearing

Rushbrook Trail partially closed after storm

Trees collapsed during a windstorm in Prince Rupert Monday night partially obstructing the trail

Charles Hays Rainmakers dry up in final game

The Charles Hays Rainmakers finished second at the No Regrets Tournament over the weekend

Students learn how to code a drone in SD52

Prince Rupert Middle School students tested their programming skills during the Hour of Code

Prince Rupert Rampage host Teddy Bear night

Prince Rupert Rampage teamed up with the Salvation Army to give back this weekend

Shop Prince Rupert is back

These businesses are all taking part in the Shop Prince Rupert event until December 21 at noon

Humboldt Broncos, cannabis, Fortnite: Here are Canadians’ top Google searches for 2018

When celebrities died or Canada Post went on strike, Canada turned to Google

B.C. billionaires worth 5,845 times average middle-income household

Economists argue for changes to Canadian tax system benefitting rich

Condominium market still ‘a lot better’ than normal in Vancouver suburbs

The Fraser Valley, east of Metro Vancouver, has long been considered a more affordable haven for first-time homebuyers.

Retired B.C. teacher a YouTube Sudoku sensation

A retired Kelowna teacher has amassed quite the following online by teaching the art of solving a Sudoku puzzle.

UN chief returns as climate talks teeter closer to collapse

Predictions from international climate expert, warn that global warming is set to do irreversible environmental damage.

Trump’s willingness to intervene in Meng detention roils Canada’s justification

The International Crisis Group said Tuesday, Dec. 11 it’s aware of reports that its North East Asia senior adviser Michael Kovrig has been detained.

Scientist awarded $100K for work on Arctic contaminants that led to ban

Derek Muir has received the $100,000 Weston Family Prize for his research that showed those carcinogens were able to move into the Arctic.

Most Read