VICTORIA - Premier Christy Clark's government admits it won't meet its promised timelines to grow a liquefied natural gas industry, but insists it's done everything it can and won't give up on the industry.

The government acknowledged in its speech from the throne Tuesday that the LNG industry it once billed as a cash windfall that would generate billions for the provincial treasury has failed to materialize.

"There is no question unforeseen global conditions are posing new challenges," said Lt.-Gov. Judith Guichon, as she read the government's throne speech at the legislature.

"Low global prices will have an impact on your government's initial timelines. But government has done everything it set out to do to attract investment for the cleanest LNG in the world.

"As companies consider their best opportunities to reach final investment decisions, your government will continue to work to bring home the opportunity of LNG to B.C."

The Clark government also foreshadowed what will be its likely defence in the 2017 election for the failure of its LNG promises.

"Success is not for quitters. Success demands steadfast attention, and resiliency in the face of global challenges," read the speech.

The government reiterated its promise to create a prosperity fund for LNG revenue. But the speech made no mention of the $100 billion in LNG revenue promised in the 2013 pre-election throne speech, nor that one small export plant was supposed to be online this year with three more in 2020.

Though there are 20 active LNG projects in the province, none have passed the planning stage and into reality. Shell announced last week it was delaying a final investment decision on its LNG Canada facility in Kitimat due to cutbacks in the corporation caused by the low price of oil.

The throne speech also foreshadowed expected new rules to ease the high price of housing in Metro Vancouver in next week's budget.

"This month, your government will take steps to ease the pressures of cost of living increases," read the speech.

"Your government will look into any allegations of improper behaviour in the housing market, and where appropriate, government will take action."

Finance Minister Mike de Jong told reporters Tuesday he's writing to the independent office charged with overseeing B.C.'s real estate market to investigate allegations of fraud and insider trading by real estate agents in Metro Vancouver.

The government will help first-time homebuyers enter the market and encourage more housing supply, said the speech. The finance minister has already said he's considering changes to the property transfer tax to raise the exemption for first-time buyers and tax luxury homes at a higher rate.

The government also said changes are coming to how local municipalities add development costs onto housing.

"There is no single solution, and no one level of government can do this on its own," read the speech.

"Your government will work with municipalities to reduce the hidden costs in home purchases, and to make those hidden costs clear and transparent to the homebuyer."

Other highlights of the throne speech included:

- Increase financial support to the Agricultural Land Commission and a move forward with a tax credit for farmers that donate food to non-profits, said the speech.

- Continue to reduce red tape.

- Hiring even more social workers than recommended by former bureaucrat Bob Plecas in his recent report into problems within the child welfare system.

- New legislation to modernize community care and assisted living.

- A push to renew the softwood lumber agreement with the United States.

- Eliminating B.C.'s "operating debt" (at $7.5 billion, a small slice of the province's overall debt) within four years.

- A final climate leadership plan later this year.

The throne speech also spoke of a push to make B.C. "a clean energy superpower" by selling LNG to other countries to replace their coal-fired electric plants and by supplying Hydro power to Alberta.

The low price of oil has hurt the finances of Alberta, and B.C. said it must learn from that province's loss of focus.

"So today, with the price of oil at historic lows, global markets shutting down, and the Canadian dollar falling, it has never been more important to stay vigilant," read the speech.

"To protect British Columbia from global trends - we must continue to work hard with determination, and resist the temptation to spend our way out of trouble."

The premier's throne speech also continued to fine-tune what's expected to be a key theme in the 2017 election - that the Liberal government is pushing toward "yes" on natural resource projects while the NDP is, as the premier has said before, "the party of no."

"To grow and diversify our economy, we must have the courage to say yes," said the speech.

rshaw@vancouversun.com

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