Legal News

Balanced Budget Act Given Third Ready and Royal Assent

The BC government gave third reading and royal assent to the Balanced Budget Act (Bill 28) on July 6 2000, bringing it into force on that day. It was enacted without amendment from the first reading version of the Bill. The Act requires the provincial government to reduce the deficit by stages until it reaches zero by the 2004/2005 fiscal year with exceptions in the event of specified conditions.