When was the last time you looked at the BC provincial budget or its year end fiscal report? I mean a really close look.
It's not as complicated as you'd think. In fact, the sources of revenue are limited and the groups of expenditures, organized by function, are clearly recognizable.
Reviewing the budget line totals in the millions of dollars brings an unemotional coolness to my observations. It helps me clearly see the connection between 'money in' and 'money out'. Outside of federal government contributions, the big revenue lines are obviously Personal Income Tax (just over $7 Billion), Sales tax (approximately $6 Billion) and Corporate Income Tax revenue (just over $2 Billion). While the smaller tax revenue sources add up to considerable amounts (tobacco, fuel, MSP Premiums, etc.), the equation demonstrates the importance of multiple source contributions from BC residents, businesses, and consumers.
The subtotals are not so balanced under the list of expenses on the next page. This is where the big beasts feed: Healthcare (just over $ 18 Billion), Education (Elementary, Secondary and Post-secondary combine to approximately $ 12 Billion), and Social Services (approximately $ 4 Billion).
With a holistic view, we understand that the contributions from many, both personal and corporate, help pay for the benefits we all enjoy as Canadians. Which makes me wonder why so many of the conversations we have privately, publicly, and on social media, tend to pit interest and industry groups against one another?
Enbridge = business vs. the environment. Union negotiations = corporate spending vs. social spending. HST = business vs. the consumer.
As these fictional vendettas play out, business often takes centre stage portrayed as the evil villain sleeping with the government mistress. The plot thickens as the business villain plunders and steals all he can without giving anything in return. Take, take, greed, take, take.
But, hang on a second. Is this not the same character that also contributes billions of dollars to help pay to educate the mistress' many children and to help heal the ailments of her large family? The irony of the situation is stunning.
I wonder what it would take to rewrite the script so that the audience could clearly see the connection between the benefits of supporting business and economic development that eventually fed back into the taxation and labour systems that supports us all.
It is high time for those in business to step up and present their side of the story. Let's talk about why we need to say 'yes' to nation building projects such as Northern Gateway or 'yes' to economic development and progressive tax systems. Let's present the other sides of the debate for public consideration. Business interests have been silent for too long, hanging in the shadows of other more vocal opponents who unabashedly create nasty profiles of capitalism and business people. We've kept our heads down, hard at work, waiting for the cloud to blow over while vitally important opportunities are moving to other provinces and other nations.
It is time to talk about what we are for, rather than letting the dominate conversation be about what we are against. It is time to remind everyone that profitability is not a dirty word. Business success contributes to corporate taxation, jobs that feed the personal income tax, and consumer dollars that boost revenue generated by sales tax.
Turn your back on business and be prepared to feel the pinch in education, health, and social services. Let's not take these connections for granted but instead consider the health of the whole.
Until next week, stay in the black and keep coming back.
