B.C. Finance Minister Kevin Falcon puts emphasis on stability

B.C. has one of the best credit ratings in the world, but Kevin Falcon is still making improvements

Finance Minister Kevin Falcon during a speech at the Heritage Inn in Cranbrook. — Breanne Massey photo

B.C. Finance Minister Kevin Falcon addressed city officials from within Cranbrook, as well as a number of politicians from the surrounding area, with an overview of provincial economics.

Although B.C. has one of the most stable economies, not to mention one of the highest credit ratings world-wide, Falcon is still intent on creating a continuation plan for provincial  improvements. Falcon insists that B.C. will remain fiscally prudent so that the province can maintain an AAA credit rating.

Falcon’s priorities include the justice system and international relationships, but B.C. residents have expressed the most interest in his work on the housing industry.

“The feedback that I’ve been getting from the housing sector has been unbelievable,” said Falcon.

Falcon said that the increased threshold for HST on the housing market will no longer apply to secondary vacation homes and a $10,000 buyers bonus has sparked an interest for first-time buyers. But the effects of our housing market can be seen in a much wider context, he said.

“One of the senior vice-presidents of one of the big banks (in Europe) came up to me after one of my speeches and told me that the phone has been ringing off the hook,” said Falcon.

He was excited that a small change in our economy encouraged European buyers in B.C., and said he expects to continue pursuing relationships that improve our standing with Asia and Europe. 

Falcon will be making presentations about the financial budget report across the province. For more information please visit the website.