Capital Report~August 24, 2007
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Peace River South MLA Blair Lekstrom presents Chetwynd Mayor Evan Saugstad with a $400,000 cheque from the provincial government. The Towns for Tomorrow grant will be used for sanitary sewer and water extension upgrades along Westgate Road. August 20, 2007.

Premier Announces Regional GHG Emission Reduction Goal

B.C. is among eight western provinces and states that have established a regional goal to reduce greenhouse gas (GHG) emissions to 15 per cent below 2005 levels by 2020, a target that will lay the foundation for a common cap and trade system, announced Premier Gordon Campbell.

  • The Western Climate Initiative (WCI) will use its new regional goal in designing a regional, market-based, multi-sector mechanism, such as a load-based cap and trade program, by August 2008.
  • The regional goal reflects the combined impact of emission-related targets B.C. and other members have set, and does not supersede those individual targets.
  • B.C. announced its GHG reduction target of 33 per cent below current levels by 2020, which will place emissions 10 per cent below 1990 levels, in February.

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Inventory of Major B.C. Projects Still Building

The provincial government's Major Projects Inventory, which tracks the growth in the number of large scale construction projects in B.C., shows the number of total major projects in the province has increased again, with record breaking results.

  • Eight hundred and twenty six major capital projects, worth an estimated record $130.2 billion, were planned or underway in B.C. between April and June 2007.
  • This is a dramatic increase from December 2001, when there were 315 projects planned or underway worth an estimated $45.7 billion.
  • This marks the 16th straight quarter the inventory has grown.

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Toquaht Nation Approves Constitution

The Toquaht Nation have endorsed their Constitution, which signals strong support for the ratification of Vancouver Island's first modern day treaty, announced Aboriginal Relations and Reconciliation Minister Michael de Jong.

  • Of the 54 eligible members who voted, 49 voted in favour, representing 91 per cent of the ballots cast.
  • The Toquaht Nation is one of five member bands belonging to the Maa-nulth First Nations on Vancouver Island. In December 2006, the Maa-nulth Final Agreement was initialled by the governments of Canada and British Columbia and the Maa-nulth First Nations.
  • Each Maa-nulth First Nation must approve their Constitution before a treaty ratification vote can proceed.

 

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Quotes This Week

“It's kind of a no-brainer for a lot of people to look around and say, 'Gee, this is a really great place to be.' But it should be ringing bells here. You have to work hard to stay at the top."
Andrew Ramlo, director of the Urban Futures Institute, commenting on Vancouver being named the most livable city in the world for the fifth consecutive time by the Economist Intelligence Unit. The EIU rated Vancouver the top of 132 cities surveyed, citing its low crime, little threat from instability or terrorism and highly developed transport and communications infrastructure. Vancouver Sun, August 24, 2007.

“New workers are coming from other sectors of the economy, from across Canada, and from across the world. The industry has had to look at all possible ways of getting new workers and so far we've been able to keep pace.”
Keith Sashaw, Vancouver Regional Construction Association president, discussing the high demand for construction workers as a result of B.C.'s booming economy. Vancouver Sun, August 23, 2007.


Did You Know?
  • Total provincial retail sales during the first six months of 2007 increased by 7.7 per cent over last year to $26.8 billion.

  • This year’s education budget is $5.494-billion - a 19.18 per cent increase from 2000-01.
  • Team BC won the 2007 Western Canada Summer Games for the ninth straight year.
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