Pat Bell's "Top Ten" for July 22nd (2010-2011 Public Accounts)

1. The province ended the year with a deficit of $309 million, compared to a budgeted deficit of $1,715 million.

2. Taxation revenue increased by $1,095 million compared to 2009/10 reflecting growth across the economy.

3. Corporate income tax increased by $341 million over 2009/10 and property tax increased by $33 million. This was offset by a decrease in personal income tax of $168 million over 2009/10.

4. Natural resource revenue, federal government transfer, and fees and licenses also increased by $1,486 million over the previous year.

5. Program spending increased by $903 million in 2010/11 as the province spent more on health, education and social programs.

6. In 2010/11, the province continued to invest in capital as part of the economic stimulus initiatives undertaken by government to respond to slow growth. The province's net investment to build and upgrade schools, universities, colleges, hospitals, roads and bridges was $2,050 million in 2010/11, $1,685 million in 2009/10, $1,918 million in 2008/09 and $1,937 million in 2007/08. Capital investment is financed through a combination of debt, partnerships with the private sector, cost sharing with partners such as Federal and Municipal governments, and other sources including cash and temporary investments.

7. In calendar year 2010, the provincial economy grew by 4.0% as measured by real GDP. This is greater than the national average rate of 3.3%. The province's ratio of net liabilities to GDP increased by 0.3%.

8. British Columbia continues to maintain a strong credit rating with all three major credit rating agencies. Dominion Bond Rating Service affirmed the province a rating of AA(high) while Standard & Poor's and Moody's Investors Services Inc. affirmed the province a rating of AAA and Aaa respectively, their highest possible ratings.

9. The unemployment rate in BC averaged 7.6% below the National average of 8.0%

10. The ratio of own source revenue to GDP having decreased from a range of 17.6% to 16.0% in 2009/10, own source revenue to GDP has remained relatively stable in 2010/11 ending the year at 15.8%.