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HomeBusinessExclusive: B.C. NDP withholds key info from business case for secretive new Crown corp.

Exclusive: B.C. NDP withholds key info from business case for secretive new Crown corp.

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Bob Mackin

The B.C. NDP government rejigged the B.C. Immigrant Investor Fund last year, but refused to release the business case when it was rebranded as inBC Investment Corp. in late April.

B.C. NDP’s new Crown corporation, a $500 million investment fund (BC Gov)

theBreaker.news requested the business case for the $500 million fund, which is overseen by a board of NDP patronage appointees, on May 6.

The government said on June 18 that it used a section of the FOI law to delay its disclosure by 60 days. In the response letter on Aug. 13, the government admitted it broke the law.

“The requested records were not published within the 60 day period ending August 3, 2021. Therefore, a new FOI request was opened as of August 4, 2021.”

theBreaker.news was not notified of this new request until the Aug. 13 letter that said the business case had been published on the same day on a government website.

The 123-page document below is heavily censored — meaning the NDP cabinet is refusing to tell British Columbians the projected operating costs (including board expenses, salary and benefits, office space, operating and administration), full-time equivalents, and cash flows for the newest Crown corporation. inBC bills itself as a triple-bottom line organization, meaning it intends to invest on the basis of social, environmental and economic values.

When its enabling legislation was tabled, the NDP took steps to exempt inBC from the freedom of information law.

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SCROLL DOWN to read the inBC business case, obtained by theBreaker.news under Freedom of Information.

Inbc Business Case 2021 Copy – obtained by theBreaker.news by Bob Mackin on Scribd

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