British Columbia New Democrats promise balanced budget, higher corporate tax

Jerome Frank
April 16, 2017

A new two per cent speculation tax on property owners who don't pay income tax in projected to raise $200 million annually.

"I think a foreign-uyer tax in the era of [U.S. President Donald] Trump is particularly undesirable", said real estate economist Tom Davidoff of UBC's Sauder School of Business.

- Leader Andrew Weaver made a stop in Vancouver to announce his party's "income security strategy".

The party is also promising changes to how British Columbians pay for MSP, though their plan is to alter, not abolish, the controversial payments.

The platform also commits to revitalizing the forestry industry by creating 114,000 rental, social and co-op homes over a 10-year period using wood products from B.C.

- Clark criticized the NDP's announced rental subsidy plan, saying it could line the pockets of wealthy tenants who may live in penthouses in downtown Vancouver. It would also increase capital spending by $7 billion over three years.

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British Columbia New Democrat leader says it's high time government offered a helping hand to renters in the province.

De Jong says the NDP's plan "is not possible" unless one of two things happen: "an operating deficit, or massive tax increases", adding it's not sustainable and can not co-exist with a balanced budget. "It's nearly platform by camouflage".

Horgan said their platform will create 96,000 jobs through investments in schools, hospitals, transit and infrastructure.

"If they're not telling us the truth, I can't be held to their numbers", Horgan said when asked whether an NDP government would promise not to introduce any additional taxes other than those in the platform.

The NDP would begin increasing carbon tax on fuels starting in 2019, two years before Premier Christy Clark has said she would resume increases to keep pace with the federal government mandate for nation-wide carbon pricing.

Notley said the expansion of the Trans Mountain pipeline that links Alberta to the Pacific Ocean through critical to province's economic prosperity. "We wanted to launch the program and see how it goes", Horgan said. With files from Camille Bains in Vancouver.

Other reports by Guamnewswatch

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