"The budget process has been the most difficult that anyone can remember," Hansen said, adding three-year provincial revenue expectations have plummeted $6 billion since last September.[/p]Hansen said the deficit will be temporary, and will only last two years.[/p](lol what are they smoking there's this thing called the olympics coming)[/p]
[/p]Today's announcement signals a dramatic change in direction for Campbell, who has long insisted deficits in B.C. are both irresponsible and avoidable.[/p]"Let me be very clear, we are not going to run a deficit in the province of British Columbia," Campbell said after delivering his economic update in October.[/p]"When you talk about a deficit, or anyone talks about a deficit, they're talking about turning their back on the next generation and sending our problems forward to them," he added.[/p]The message remained even last November, when Finance Minister Colin Hansen announced provincial revenues were expected to plummet by about $3 billion over three years.[/p]"We will not be running a deficit. We will ensure that we protect the important programs. I think it is important to stress it is a manageable objective," Hansen said at the time.[/p]"I am confident we will be able to deliver a balanced budget for each of the coming years."
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[/p]At today's announcement, Hansen said the latest economic outlook for B.C. is that the province will grow at zero per cent in 2009.It is illegal to run a deficit in British Columbia, meaning Campbell will have to change the law to allow him to take the new direction.[/p](he's anointed himself a deity at this point with his paid Young BC Liberal supporters clapping for him wherever he goes...so he'll do a Bush and make it legal (literally this is what he does sad)[/p][a href="vny!://www.vancouversun.com/British+Columbia+will+year+deficit/1245187/story.html"]vny!://www.vancouversun.com/British+Columbia+will+year+deficit/1245187/story.html[/a]
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