[LabComm] MacPhail Issues REALITY CHECK on BC's GDP Growth Rate

[BC NDP NEWSWIRE]

MacPhail Issues REALITY CHECK on BC's GDP Growth Rate

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VICTORIA - Yesterday, Finance Minister Gary Collins issued a news release praising his government for achieving a 2.5 per cent economic growth rate in 2003.

Here's what the Finance Minister didn't say:

* Under the NDP, (1992-2000) average annual GDP growth in BC was 3 per cent.

* Since the Campbell government took office, average annual GDP growth in BC has been 2.2 per cent

Collins makes much of the fact that BC's GDP growth rate surpassed the national average in 2003 for the first time since 1996. What he doesn't point out is the extent to which GDP growth in the territories, particularly the Northwest Territories, skews this measure. For example, growth in the NWT (driven by diamond exploration) averaged 13% between 2000 and 2003. When one compares just the provincial economies, BC's GDP rate is actually below the provincial average for 2003 (2.5% compared to 2.7%). In fact, the last time BC's GDP rate exceeded that of the other provinces was 2000—under the NDP. Compared to the other provinces, BC's economic growth rate was 4th best in 2003 following two years of being 7th best in the country. And the fourth-best ranking Collins is crowing about just gets us right back where we were in 2000.

And the Standard & Poors upgrade that Collins is celebrating also points out that the upgrade is based on the knowledge that S&P is confident that the NDP would manage the provincial economy responsibly if elected to govern in 2005.

Gordon Campbell and Gary Collins are spending millions of taxpayer dollars on partisan political television spots, newspaper ads, and glossy mailers promoting their record.

But they're not being straight with the facts.

Compared to the 10 years prior to their taking power, the BC Liberal economic record is worse than the NDP's, health waitlists are much higher, per-pupil funding for education is down, and crime is up.

That's the real BC Liberal record.

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