The following electronic version is for
informational purposes only.
The printed version remains the official version.

Ministry of Finance and Corporate Relations
Province of British Columbia

BC Signature   Budget 97

Brochure   Ministry of Finance and Corporate Relations
Honourable Andrew Petter, Minister

Budget 97 Creating Jobs

Protecting Health Care
and Education

Cutting Spending

Message from Minister of Finance Andrew Petter

This budget is consistent with the priorities of British Columbians and is based upon prudent economic assumptions.

We're delivering on our commitment to create jobs, protect health care and education, and ease the burden on middle- and lower-income British Columbians.

And we are achieving this in a fiscally responsible manner.

Yearly spending is down for the first time since 1958 -- and the projected provincial deficit is the smallest this decade.

With the anticipated improvement in the economy this year, and a federal commitment not to further reduce transfer payments, we are establishing a solid foundation for the future.

The budget cuts the deficit by more than half of what it was last year. And our financial management plan places us in position to put the budget in balance in 1998/99, and to achieve a surplus in the year that follows.

I'm confident the road we've chosen -- to protect job creation, health care and education while reducing the deficit in a careful, prudent way -- is the right one for the people of British Columbia.

Andrew Petter

Jobs Strategy for B.C.

A jobs strategy will support the creation of 40,000 new jobs this year, building on the best job creation record in Canada. It includes:

Protecting Health Care and Education

While overall spending is down, spending on health care and education is up.

Supporting B.C. Families with Tax Cuts and Rate Freezes

Working British Columbians get help to make ends meet.

A Financial Management Plan

B.C.'s finances on a sound footing for the future

The budget includes a financial management plan to:

Prudent economic assumptions

Spending drops for the first time since 1958

Deficit cut to smallest this decade

1997/98 Budget at a Glance

Revenue = $20.286 billion

Spending = $20.471 billion

Projected deficit = $185 million

-- lowest this decade.

BC Budget 97

BC Ministry of Finance and Corporate Relations

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