In honour of BC Mary, I am marching forth and continuing the good fight, and how.
Finance Minister Kevin Falcon has stated time and time again that the billions in dollars of contractual obligations the government owes is not like debt, so it doesn’t need to be reported with the regular debt. Go figure. I’ve compared it in the past like trying to convince your banker your $500,000 mortgage isn’t really a debt, but a contractual obligation, because all those other payments don’t come due for years. Think your banker is going to fall for that? No, and you shouldn’t either.
From the 2o10/2011 public accounts, here is a breakdown of the
contractual obligations ie debt, the province really owes for various P3’s and service agreements. The total IPP/run of the river obligations alone is in the billions. If you aren’t outraged, you aren’t paying attention, because on several of those projects, SNC is laughing all the way to the bank.
**click on each image to see full size/ alternatively you access via this PDF file here http://www.llbc.leg.bc.ca/public/pubdocs/bcdocs/348389/2010_11/contractual_obligations.pdf
Now, if you missed it over the weekend, I urge you to scroll down and read the full exposure on SNC Lavalin’s activities worldwide… and why that should be of great concern with respect to Chairman of the board Gwyn Morgan’s relationship with Christy Clark.