Michael Pickup says his job is to give an opinion and he believes the Finance Ministry should change the way it reports payments from other governments and non-government sources.Sign up to receive daily headline news from the Vancouver Sun, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
The Finance Ministry, however, says it records the figures that way for restricted grants that cover multiple years so that the reported revenue will better reflect its allocation over time. On Tuesday, Finance Minister Selina Robinson announced British Columbia’s public accounts registered an “unexpected” surplus of $1.3 billion, in sharp contrast with a forecasted deficit of almost $10 billion.
She said the improved bottom line could be attributed to reopening the economy and the resulting increase in tax revenue, one-time federal contributions for COVID-19 and disaster events, higher natural resource revenues and higher Crown corporation earnings, especially at the Insurance Corp. of B.C.
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