Premier Gordon Campbell says he will recall the provincial legislature for an unplanned sitting this fall to implement accelerated tax cuts and other measures in response to the world economic crisis.
Campbell delivered a live, provincewide television address Wednesday evening to lay out his government’s 10-point economic plan.
The Liberal government will accelerate planned personal and corporate tax cuts and strengthen protection for B.C. credit union users.
The province will also create a pension plan for private sector workers in the province who don’t have access to a pension and will increase funding for ferries to deal with high fuel costs.
The B.C. government has downgraded its economic growth forecast from 2.4 per cent to 1.7 per cent but has increased the budget surplus estimate to $1 billion from about $30 million.
While some provinces and even Conservative Prime Minister Stephen Harper admit they’re facing the prospect of short-term deficits, Campbell has already ruled out a deficit for B.C.