Editor:
BC Ferries (BCF) recently published its annual accounts for the financial year April 2015 to March 2016. From this we see that ferry travellers financed the whole operation, including amortization and financing, to the extent of 77.5 per cent. For other provincial public transportation organizations, travellers paid much less – e.g., Translink 47 per cent and BC Transit 37 per cent.
Mind you, BCF has to absorb the costs for amortization ($145.5 million) and financing of the long-term debt ($60.568 million), whereas the province finances these costs for the other transportation outfits.
If ferries (which are an important part of the provincial transport infrastructure) would be treated in a similar manner as the highway system (where amortization and financing of the debt is absorbed by government) then our fares could be reduced by six per cent. If BC Ferries would be treated as a “public service” (break even – no profit), the fares could be reduced by 14 per cent!
Food for thought.
Jakob Knaus, Wilson Creek
