During his period in office our province has seen an explosion in publicly guaranteed debt. This debt has been for the most part secretly contracted for and is only now coming to light.
Besides the $53 billion the Auditor General is asking for details about, our Highways Ministry is actively resisting the disclosure of about another $10 plus billion. BC Hydro is also refusing to disclose the financial obligations it has taken on and is shielded from having to do so by an Order in Council.
A conservative estimate of what this debt amounts to is about $40 billion.
In every case of the P3 and IPP contracts there is a public guarantee that has a present value greater than the cost to build and if you can't understand why just ask me. That means the public has unknowingly been putting up billions of dollars of "equity" for zero ownership (again if you can't figure this out just ask me). This equity is then partially stolen from the citizens of BC when a portion of it is monetized when the long-term financing shows up (also, if you can't figure this out for yourselves just ask me).
It has been conventional wisdom for the mainstream press to blame the HST for all the anger in BC. You and your press associates are so incredibly wrong.
People in BC have only just begun to understand the scale of the deceit of our government starting with the sale of BC Rail. Premier Campbell did not getting invited to the latest Bilderberger conference because he is enormously wealthy or a pretty face. He was invited because he delivered the province of BC on a platter to the "greed is good " gang.
Shame on you folks for writing such dishonesty.
Erik Andersen; EconomistGabriola Island, BC