What is the impact of N. Cowichan forestry on budget?
Your Jan. 5 story on the projected budget was sparse and hopefully it can be expanded to deal with one financial aspect of the municipality which has had extensive coverage the last few years.
That area is the revenue shortage caused by the pause in the forestry program. As has been extensively debated in this paper the program for the last few years has been paid for by depleting a reserve fund. Revenue losses exceed $6 million. The solution was to be carbon credits, which allow a polluting company to pay money to North Cowichan to pollute somewhere else. This was to offset the losses caused by lack of logging revenue.
The world was waiting for the details in this year’s budget. But there is nothing. Please complete the story.
Glen Ridgway
North Cowichan