Westside Kelowna BC Conservative candidate Brian Guillou Slams Unsustainable Government Spending

Westside Kelowna BC Conservative candidate Brian Guillou has slammed successive Liberal and NDP Governments in BC for their willingness to incur unsustainable spending which has led to levels of taxation that the Fraser Institute notes has now exceeded the average spending levels for consumers on their necessities of life (food, clothing and Shelter combined). 

The link to the Fraser Institute report follows Guillou’s remarks.

April 24, 2013

Guillou Sounds Alarm Over Debt Levels

Westside Kelowna BC Conservative candidate Brian Guillou commented on the report released by the Fraser Institute on April 23, 2013, that showed Canadians spend more money on taxes than food, clothing and shelter combined.

“I was appalled when I read the report, especially in view of the looming debt crisis facing British Columbians, this situation is unsustainable. The tax bill for the average family has grown 1,787% since 1961. The seniors and young families are the most vulnerable and they are being hit the hardest,” said Guillou.

British Columbia is currently $50 billion in debt (2011/2012). The current BC government projects that they will have a debt of $66.4 billion by 2014/15.

On the current debt of $50 billion, the interest alone is:

·      $2.9 Billion per year

·      $7.9 Million per day

·      $330,000.00 per hour

·      $5,500.00 per minute

This means, the interest cost per British Columbian is:

·      $730.00 for each citizen per year

·      $2.00 for each citizen per day

·      $2900.00 each year for a family of four

“What I find especially alarming is that currently interest rates are effectively at zero, what happens if that changes, what would happen if these numbers double or triple?” asked Guillou.

“If we don’t deal with this issue now, there will be real concerns funding education and healthcare in the future. We could do a lot in education and health care with an additional $2.9 billion dollars a year,” said Guillou.

For more information on Brian Guillou go to: www.brianguillou.com

For comment call Brian: 250-452-9894

Background:

Reference:Page 42 of the Budget and Fiscal Plan 2012/13-2014/15 by the Ministry of Finance. 

Taxes versus the Necessities of Life: The Canadian Consumer Tax Index, 2013

http://www.fraserinstitute.org/research-news/display.aspx?id=19578