B.C. Finance Minister Mike de Jong.

Budget surplus hits $2.24 billion, but B.C. braces for schools settlement

Finance minister Mike de Jong won't say how much of a hit is expected from teachers' court win

B.C.’s projected budget surplus has climbed further to an estimated $2.24 billion.

Finance Minister Mike de Jong released that number as part of a generally upbeat second quarter financial update Tuesday.

He cautioned B.C. is bracing for significantly higher education budget costs in the wake of a Supreme Court of Canada ruling in favour of the B.C. Teachers Federation on classroom size and composition requirements.

De Jong declined to provide an estimate.

“It would be presumptive on my part and the government’s part to lay out our figure or unilaterally state what we believe that figure will be,” he said.

“The fiscal plan is healthy and we are in a position to accommodate the results of the negotiation that is now underway.”

Asked if the improved budget could allow B.C. to further raise social assistance rates, de Jong said that will be a priority, but cautioned there’s no certainty a large government surplus will repeat each year.

“The landscape is littered with the carcasses of governments past and the deficits they incurred because assumptions were made that a present set of circumstances would repeat in perpetuity.”

He also noted that public sector workers will be receiving nearly one per cent more pay over and above their contractual wage increases under B.C.’s economic stability mandate dividend, because the province’s growth has exceeded benchmarks. The latest 0.35 per cent dividend, resulting from 3.3 per cent economic growth for B.C. in 2015, takes effect in February and is on top of a 0.45 per cent bump a year earlier.

B.C. has seen an increase of 71,400 jobs so far this year, up 3.1 per cent as of October.

De Jong was also asked to respond to the potential that U.S. president-elect Donald Trump’s administration may start a trade war.

More protectionist policy from American leaders would also hurt the U.S. at a time when that country needs more B.C. lumber to accommodate growth projections, de Jong said.

No advertising campaign is contemplated at this time, he said, but he did not rule out strenuous lobbying by B.C.

“We are going to have to ramp up in a strategic way to ensure that Americans themselves understand there’s a price to be paid for protectionism and that it is not just a price you inflict upon others.”

He noted the U.S. forest industry has already fired the first shot against B.C. softwood lumber imports, with a petition that could lead to an initial ruling as early as spring.

Just Posted

Volunteers wanted to clean up Delta trails

Two April 28 events will help remove invasive species from North Delta’s creek-side trails

Southridge targets $100K for Relay for Life

Student-organized event takes over school field Friday

Proposed Delta casino to be part of ‘Cascades’ brand

The casino will have a casual feel, focused on community and entertainment, Gateway said

Surrey man charged in fatal Coquitlam traffic crash

Two girls ages three and nine were killed, as was a woman age 30

Surrey teens help create new ‘The Release Party’ play, featuring parkour and more

Some Assembly company makes theatre productions about issues facing teens

VIDEO: B.C. ‘escapologist’ stuns judges on Britain’s Got Talent

Matt Johnson says televised water stunt was closest he’s come to death

VIDEO: Mounties seek help identifying ‘makeup bandit’ in bank robbery

Suspect appears to have used makeup or fake tanner to possibly cover tattoos or scars, police say

Cartoonist captures public mood following Toronto, Humboldt tragedies

Cartoonist said he was trying to find a bit of positivity with an image that has garnered attention

Whitecaps host against Real Salt Lake looking to snap 3-game losing streak

Ending their losing streak is all the Whitecaps care about when they host Salt Lake in Vancouver

Montreal Habs goalie Carey Price stops by B.C. hometown for rodeo

Famous goaltender tries to blend in with the crowd at first BCRA-santioned event of the season

B.C. hires 20 more conservation officers

The province announces 12 new locations for conservation officer services this year

B.C. pharmacist pleads guilty to animal cruelty charge

Joelle Mbamy was handed $1k fine, on top of $5k fine already imposed, and 10-year animal prohibition

‘N’ driver in McLaren caught going 70 km/hr in playground zone

Vancouver police said the driver was fined $368 and the luxury car impounded for seven days

78 Mexican farmworkers displaced after fire tears through building on B.C. farm

Flames broke out Thursday morning in building that housed up to 80 workers at Abbotsford farm

Most Read