February 13, 2013, Premier Christy Clark announced
…the new British Columbia Prosperity Fund to ensure communities, First Nations and all British Columbians benefit from the development of a new liquefied natural gas (LNG) industry…
LNG development is poised to trigger approximately $1 trillion in cumulative GDP within British Columbia over the next 30 years and that means more than $100 billion will flow directly to the Prosperity Fund.
Province wide, LNG is expected to create on average 39,000 annual direct, indirect and induced full-time jobs during a nine-year construction period. As well, there could be as many as 75,000 full-time jobs required once all LNG plants are in full operation…
…Projected total revenues to government are estimated between $130 billion and $260 billion over the next 30 years. In order to maximize the benefits of these developments to future generations of British Columbians, the provincial government is establishing a new British Columbia Prosperity Fund…
LNG revenues will not only ensure British Columbia is debt free but will also fund essential spending for health care, education and social services. This plan demonstrates the superiority of BC Liberal financial management. After almost 40 years, Alberta’s Heritage Fund contains only $17 billion so it has accumulated funds at 1/10 or 1/20 the rate intended for B.C.
So that we don’t forget this good news, Northern Insight will calculate the accrued income that is coming our way. It updates regularly.