BUDGET AND FISCAL PLAN — 2002/03 to 2004/05
TABLE OF CONTENTS
Attestation by the Secretary to Treasury Board
Budget and Fiscal Plan — 2002/03 to 2004/05
Summary
Fiscal Plan
Building a Strong and Vibrant Economy
Eliminating the Deficit
Economic Outlook
Revenues
Crown Corporations
Revenue Measures
Spending Plan
Managing Risks to the Fiscal Plan
Debt
Chapter 1: Three-Year Fiscal Plan
1.1
Overview
1.2
Building a Strong and Vibrant Economy
1.3
Eliminating the Deficit
1.4
CRF Revenue
1.5
Revenue Measures
1.6
CRF Spending
1.7
Crown Corporation and Agency Service Plan Highlights
1.8
Capital Spending
1.9
Provincial Debt
1.10
Fiscal Plan Risks
1.11
Eliminating the Deficit — Summary
Tables:
1.1
Summary Accounts Operating Results
1.2
Revenue by Source
1.3
Summary of Revenue Measures
1.4
Ministry 3-Year Spending Plans, Changes Since January 17, 2002
1.5
Deficit Before Adjustments
1.6
Expenditure by Ministry
1.7
Crown Corporations and Agencies
1.8
Capital Expenditures
1.9
Capital Projects Greater than $50 Million
1.10
Provincial Debt Summary
1.11
Provincial Financing
1.12
Summary of Yearly Budget Changes — Three-year Fiscal Plan
Topic Boxes:
2002/03 Health Compensation Increases
Federal Funding of Health Care in British Columbia
Government Restructuring
New Approach to Capital Planning
Compliance with Generally Accepted Accounting Principles
Ministerial Accountability for Fiscal Targets
Chapter 2: British Columbia Economic Review and Outlook
Overview
The Outlook for the External Environment
Financial Markets
Commodity Markets
British Columbia Economic Forecast
Risks to the Forecast
Scenarios Around the Budget Forecast
Tables:
2.1
British Columbia Economic Outlook
2.2
British Columbia Economic Outlook Scenarios
2.3
Key Assumptions
2.4
Key Indicators
2.5
Key Indicators and Assumptions — Slow Recovery Scenario
2.6
Key Indicators and Assumptions — Rebound and Recovery Scenario
2.7
British Columbia Economic Outlook
2.8.1
Gross Domestic Product — British Columbia and Canada
2.8.2
Components of British Columbia Real GDP at Market Prices
2.8.3
Components of Nominal Income and Expenditure
2.8.4
Labour Market Indicators
2.8.5
Major Economic Assumptions
2.9
Current Economic Statistics
Topic Box:
The Economic Forecast Council, 2002
Chapter 3: Revised Financial Forecast (Third
Quarterly Report
)
Revenue
Expenditure
Crown Corporations and Agencies
Capital Spending and Provincial Debt
Tables:
3.1
Revised Forecast
3.2
Developments Since the Second
Quarterly Report
— Summary Accounts
3.3
Pressures Allocated to the Contingencies Vote
3.4
Capital Expenditures and Provincial Debt — Revised Forecast
3.5
Developments Since the Second
Quarterly Report
— Capital and Debt
3.6
Summary Accounts — Revised Forecast
3.7
Consolidated Revenue Fund Revenue by Source
3.8
Consolidated Revenue Fund Expenditure by Ministry
3.9
Crown Corporation and Agency Results
3.10
Government, Crown Corporations and Agencies — Capital Expenditures
3.11
Capital Expenditure Projects Greater than $50 Million
3.12
Provincial Debt Outstanding
3.13
Summary Accounts Balance Sheet
Appendices
A1
Revenue Measures
A2
Tax Expenditures 2001/02
A3
Interprovincial Comparisons of Tax Rates — 2002
A4
Comparison of Provincial and Federal Taxes by Province — 2002
A5
Interprovincial Comparisons of Provincial Personal Income Taxes Payable — 2002
A6
Summary Accounts Operating Results
A7
Revenue by Source
A8
Expense by Function
A9
Consolidated Revenue Fund Revenue Assumptions and Sensitivities
A10
Consolidated Revenue Fund Expenditure Assumptions and Sensitivities
A11
Crown Corporation Assumptions and Sensitivities
A12
Summary Accounts Staff Utilization
A13
Summary Accounts Balance Sheet
A13a
Changes in Summary Accounts Financial Position
A14
Provincial Debt Summary
A15
Key Debt Indicators
BUDGET AND FISCAL PLAN — 2002/03 to 2004/05
