strategy was unveiled, along with more money for aboriginal students and training. Half a billion dollars for social housing. To connect with the vital Indo-Canadian community, the government has borrowed $97.5 million on the Indian Masala bond market, and reinvested it in the Housing Development Finance Corporation Limited of India. The government expects to make a $2
million profit after three years – a very low rate of return. The biggest motivator seems to be entrenching economic links to India, especially as a BC lumber buyer, as a way to build the government’s connection to IndoCanadian voters here. Indeed, BC is spending $5 million over three years to promote BC wood in India. A noble cause, to be sure, but one that should be kept separate from BC's
investment decisions. A decision to risk $97.5 million should not depend on marketing aims – or on hopes to woo voters. All those announcements happened in the first two weeks of September. By the time the May 9, 2017 provincial election arrives, BC residents may not be able to sneeze without government rushing to offer us a taxpayer-funded tissue – all paid for with our
JORDAN BATEMAN is BC Director at the Canadian Taxpayers Federation.
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