Mr. Speaker, the economy of British Columbia is in dire straits. The softwood lumber dispute, downturn in mining, lack of progress in proceeding with offshore oil and gas development have all created unprecedented economic difficulties, especially in northwestern B.C. and my riding of Skeena.
In his upcoming budget, it is to be hoped that the finance minister sees fit to level the playing field tax wise. Equalizing the corporate income tax rate is necessary to encourage new investment in these vital industries.
Furthermore, it is incumbent upon the federal Liberal government to encourage its provincial counterpart to move on offshore oil and gas development. The B.C. equivalent of a Hibernia plus awaits direction from both senior governments.
The B.C. economy needs the jobs and revenues. Northern British Columbians require new employment opportunities. The resources are there. Government must cut red tape and taxes to create the opportunity for economic recovery in our resources sector.