August 25, 2001

Accountability: Gary's Standard

In less than three weeks, we will see a updated financial statement from Finance Minister Gary Collins. Section 10 of the Budget Transparency and Accountability Act requires a quarterly report covering the period April - June on or before September 15, 2001. The government wasn't sworn in until June 5th, but the Act also requires "the forecast of revenues and expenses and the resulting surplus or deficit for the fiscal year to which the quarterly report applies." In other words, it requires a revised full year forecast.

This will be the first financial statement from the Campbell government since its July 30th fiscal update, and the first required revision of forecast revenues since the softwood countervail. The 1st quarter financial statement is required 9 days before the U.S. decision on dumping. With the core, regulatory and justice reviews underway and some cutbacks already taking place, this will be the first chance to test the markers the government put down in July.

On August 9th, Jenny Kwan asked the Finance Minister "If the minister won't commit to increasing the funding for health care, will he at least commit to forgoing 20 percent of his salary, as he has asked other ministers to do, if he does not hit the 3.8 percent growth target?" Minister Collins didn't answer, but the public deserves an answer to precisely what standards of accountability will apply for that penalty before the 1st quarter statement is presented. Of course, the penalties provided in the Balanced Budget and Ministerial Accountability Act don't kick in until the fiscal year starting April 2002. Having made many big decisions in the first 90 days, Gary should be a sport and say which of his predictions he will own this year as his standard for accountability