The majority Conservatives rolled out a federal budget today almost exactly the same as the one that helped trigger an election this spring, which includes provisions for a key transportation project in northern B.C.
The budget allows the Crown corporation Ridley Terminals Inc. to borrow from capital markets so it can expand its facilities at Prince Rupert.
The terminal has essentially reached its coal-handling capacity, which has caused fears that coal production in northeast B.C. could be hampered by the bottleneck. Coal production is booming in northeast B.C., providing economic activity and jobs, including for those in Prince George.
The budget also provides $60 million to help forestry companies innovate and tap into new markets abroad.
"It's a restraint type budget, but we're still leaning toward job creation and ensuring the economy remains on a good track," said Cariboo-Prince George Conservative MP Dick Harris.
The Conservatives increased spending to stimulate the economy during the recent global recession, increasing deficit spending which will now be reduced.
The Conservatives have a $130-million promise on the books to help pay for the $404-million Northwest Transmission Line, which recently received federal regulatory approval. The transmission line is expected to be a catalyst for several major mining and hydro-electric projects, which would provide economic benefits in northern B.C., including in Prince George as a supply and service centre.
Harris said the federal government is ready to contribute its promised funding.
