MINISTER HANSEN RELEASES SECOND QUARTERLY REPORT
The Province's second quarterly financial report shows an estimated surplus of $450 million in the 2008/09 provincial budget, down from the estimated $1 billion projected in the last quarterly report. [Read more]
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FILM INCENTIVE BC TAX CREDIT CHANGE TO BENEFIT INDUSTRY
VICTORIA – The Province intends to change the Film Incentive BC tax credit to further support the industry and encourage investment in B.C., announced Finance Minister Colin Hansen.
SLOWER GROWTH PROJECTED BY ECONOMIC FORECAST COUNCIL
VANCOUVER – The possibility of a prolonged U.S. recession, continued turmoil in world financial markets and slowing demand for B.C. products are the primary reasons the B.C. Economic Forecast Council has lowered growth projections for the Province, Finance Minister Colin Hansen announced.
RETIREMENT OPTIONS IMPROVED FOR B.C. WORKERS, EMPLOYERS
VICTORIA – Amendments to the Pension Benefits Standards Act will result in greater workplace flexibility and improved savings opportunities for British Columbians approaching retirement age, announced Colin Hansen, Minister of Finance.
B.C. AND ALBERTA RELEASE REPORT ON PENSION STANDARDS
VICTORIA – The British Columbia and Alberta governments have released the report of the Joint Expert Panel on Pension Standards, which provides recommendations to harmonize and modernize the pension standards legislation of the two provinces and improve access to pension plans.
B.C. ADJUSTS TO GLOBAL ECONOMIC CHALLENGES
VICTORIA – The impact of global economic instability has resulted in an $804 million decline in provincial revenues for 2008/2009. The decrease in projected revenues reflects weakening economic growth and a decline in commodity prices.
The Ministry of Finance provides fiscal policies and regulatory frameworks to support a strong provincial economy and the sustainable delivery of services to British Columbians.
