B.C. faces inflation risk with rate hikes

Regarding excessive spending and proposed BC Ferries and BC Hydro increases, of course there will not be a corresponding increase in the price of goods and services trucked over from the Mainland. They will not pass on these costs onto the consumers. There will be no inflation. We are sheep. We just obey and pay.

We need to realize the ferry cost increases not only affect the travellers of the ferry system, but lower our standard of living by increasing the costs of goods and services on the Island.

Many Western governments have turned on the printing presses and see no problem with more spending, borrowing and higher taxes, fares and rates.

Paul Bernanke (Federal Reserve chair) is well aware that inflation causes a brutal economic “hangover,” making things actually worse in the long run.

The latest proposed changes, only aggravates this problem. These rate increases will undoubtedly translate into higher prices by businesses and landlords and so on.

This is compounded with potential higher taxes for investment in sewage treatment, the Blue Bridge, and the requisite upgrade of municipal infrastructure that will only make living on the Island much more expensive.

Avi Ickovich

Langford

 

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