US EditionREPORT: How BC’s Credit Rating Impacts the Taxpayer — Coastal Front
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REPORT: How BC’s Credit Rating Impacts the Taxpayer — Coastal Front
(Image courtesy of CBC) A couple weeks ago, BC's credit rating was downgraded by Standard and Poor’s (S&P), one of the leading American credit agencies, from AA- to A+. Now, on its face, this move may seem like high-level finance jargon, but this costs BC taxpayers $78.59 million a year. To understand this, however, one must grasp how BC does its budget and how bonds play a role in it.The Relationship Between Government Budgets and BondsGovernme…
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