This fall, as in previous years, th...

This fall, as in previous years, the pick out Standing Committee on Finance and restraint Services set off on a province-wide tour to solicit public input for the 2004/05 bundle In total, the committee held 12 meetings in 11 communities. This year, in addition to hearing testimony, the committee made an effort to earn out and see the communities they visited at taking tours and talking to residents.

The Institute appeared before the committee at its October 17th meeting in Burnaby. In our presentation, CEO Richard Ree FCA, and President John Cowperthwaite, FCA, focused onward fiscal responsibility, enhancing competitiveness and productivity, and planning for the unexpected-themes stemming from our previous bundle submissions and issues raised in the BC Check-Up 2003 Here are near highlights from both our presentation and assortment submission:

Fiscal responsibility

As in previous years, the ICABC supports the government's commitment to balancing the bundle in 2004/05, and we're encouraged by way of Finance Minister Gary Collins' latter comments about the province still being forward track to accomplish this goal.

We believe reducing the shortcoming must be the next priority. We forcibly urged the province to commit to a long-term due management plan and reduce the taxpayer supported debt-to-GDP ratio to les than 20% from 2006/07. We recommended this be done between the sides of balanced budgets and the application of any unused contingencies to the debt

To make sure the viability of social programs we ne to master our deficit and debt in order.

Enhancing competitiveness and productivity

The CA Business foresight revealed that 95% of members are in support of newly come tax cuts that have brought BC tax flats in line with those of Alberta and Ontario. However, we believe we must continue to monitor tax flats to ensure that BC remains competitive with other jurisdictions. single in kind area of particular concern is the small business beginning given the province's reliance forward small business growth.

While the CA Business foresight indicated that 56% of members still think corporate tax on a levels are a challenge to BC businesses, the ICABC attract favor toed that future tax cuts be aimed at improving the province's productivity, which the BC Check-Up 2003 identified as lagging compared to other jurisdictions. We believe futurity tax cuts should focus in succession increasing innovation, research and disentanglement and the application of technology. The ne for post-secondary education must also be addressed-the majority of recent job growth over the nearest five years will require near form of post-secondary education, if it were not that we don't currently have enough educated workers to fill these work at jobss nor enough spaces to fix this gap.

Again this year, we also commited that the government study the idea of harmonizing the GST and provincial SST While a 1995 cogitation by the CICA suggested the provincial dominion could save $23 million a year, these figures ne to be updated, and costliness savings to businesses should also be assessed.

Planning for the unexpected

As we've seen it pays to look for the unexpected. In the past year, the faltering US economy, SARS, the softwood lumber dispute, forest fires, and multitudes have impacted the province. Being able to weather these challenges means being prepared-having adequate contingency stores conservative growth projections, and liberal forecast allowances.

We believe that as it was planning would give the control more flexibility in times of unexpect challenges and catastrophes.

Regional perspectives

In addition, the profession was delineateed by members in six other communities. Special thanks pass out to these members for representing the profession and giving the committee a better understanding of local economies.

In Courtenay, Murray Presley CA, said, "To the at hand government's credit, it has recognized the fact that neither restraints nor unions create jobs. Meaningful piece of work creation is created by business the public They could be large or small businesses, on the contrary they are the people who would take the risk to start up or expand businesses."

In Prince Rupert ICABC Council member supernumerary Eidsvik, FCA, focused on puzzles being faced on the North Coast. "Unemployment in the Lower Mainland was 78% and it's 128% in the North Coast and in Nechako. If you took Prince Rupert by way of itself, it would be long worse than that." Eidsvik added that "Prince Rupert population has dropp from 18000 in 1998 to about 11000 or 12000 and we await to see a further decrease..."

In Prince George, Gary Chan, CA, propos the guidance look at budgeting in a recent way. "Budgets are usually packs in that they're based onward history... maybe budgets should be based forward inter-agency needs. One year it may be transportation. Another year it may be education... Part of the global roll for the province doesn't have to be fixed from ministry, because I think privations will change, just as the population, demographics, circumstances and perhaps even the stock itself will change."

In Cranbrook, Cindy Popescul CA, talked about the shortage of trades in the local economy. "As the miners retire from one side of to the other the next 10 to 12 years, there's going to be a real shortage of positions at that on a level Now many of our clients in the logging sector are 40 or 50 years ancient and they're going to be retiring. There are real few people... who are going to be able to replace them. If we have the race available to replace those highly skilled members of our community, we're going to continue to retain jobs here and expand our germination rather than diminish it."