"The BC Liberal Party, under Gordon Campbell, won a massive majority in 2001 on the strength of its New Era electoral platform. On his first day in office, Campbell fulfilled the party's campaign pledge to dramatically reduce personal income taxes in British Columbia. "Big Promises, Small Government" demonstrates the integral relationship between effective tax policy and sustainable social programs. In this important and original case study, George Abbott provides a rigorous analysis of an intense and often controversial period in the province's political history. Despite sharply declining economic indices, the new premier expected that lower taxes would spur investment and growth, essentially paying for themselves. Instead, the Campbell government's precipitous and ideological decision to cut taxes and exempt health and education - some 70 percent of the provincial budget - from any decrease in expenditures, left smaller ministries scrambling to save $4.4 billion to meet a balanced budget. Severe budget cuts extended throughout social ministries with direct impact on their often vulnerable clients. "Big Promises, Small Government" demonstrates the inherent difficulties that tax cuts present to small, open trading economies such as British Columbia's, which could not hope to reshape its local fortunes quickly amid broader global shifts. George Abbott's insider perspective and compelling insights on the genesis, implementation, and real-world consequences of a tax policy offer vital lessons to future governments and gripping reading on the effects of short-sighted tax cuts on a province."-- Provided by publisher.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.