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BC United proposes largest middle class tax cut in B.C. history
MLA MINUTE
By Doug Clovechok
Folks, as I near the end of my term, I can’t think of a better gift than to leave knowing that the good people of Columbia River-Revelstoke will be better off under a BC United MLA who will always put your interests above anything else.
Our candidate Scott McInnis from Kimberley is that individual. Since 2013, I have learned that I needed to listen more than talk so that your concerns can be presented in Victoria. I continually hear about how unaffordable it is to live here and throughout B.C. Our BC United Party is taking bold steps to address affordability and to ensure that British Columbians have the best environment in which to thrive.
How are we going to do that? We have a plan:
BC United just announced that they will implement the largest middle class tax cut in British Columbia’s history.
BC United will make life more affordable by:
- Putting $2,050 in your pocket: Increasing the Basic Personal Exemption from the current $11,980 to $50,000. Savings will be immediate, as employers will adjust payroll deductions to reflect the new tax rates, putting more money directly into the pockets of British Columbians with each paycheque.
- Eliminating income tax for 60 percent of British Columbians: Ensuring more than 2.4 million British Columbians will pay no provincial income tax.
- Providing relief for average earners: Nearly eliminating provincial income tax for average taxpayers (average income is $54,450).
- A minimum wage worker earning $35,000 annually will pay no provincial income tax, saving approximately $1,134.
- Someone earning $50,000 will also see their provincial income tax reduced to zero, saving $2,052 annually.
- A family with two income earners each earning the provincial average of $54,450 will see a combined savings of $4,104.
- Higher-income earners, such as those making $100,000, will see the same significant tax savings of $2,052, but those earning less receive the biggest percentage benefit.
Our party’s plan is to implement substantive tax cuts that will help you afford essentials like food, gas, and your kid’s extracurricular programs. I am painfully aware that David Eby’s NDP continues to make British Columbia unaffordable with a blizzard of 32 additional or increased taxes over eight years in power.
They don’t seem to understand that you can’t tax people into prosperity. Our tax cut policies would immediately be reflected in higher paycheques for families across the province who are struggling right now.
For the first time in more than a decade, more people are leaving B.C. than moving into the province. Our historic tax cuts will put more money back into the pockets of students, families, and seniors thus making it more viable to live in British Columbia.
As we continue to battle the NDP’s affordability crisis we will eliminate income tax for 60 percent of British Columbians. People are desperate in this province. We need to take these bold steps to make life more affordable – it is not that complicated.
The question I know that many of you asking is how are you going to pay for it? One of the ways is crystal clear. We want to increase private sector growth that will generate revenues. The proposed tax cut is projected to cost $5.4 billion annually, about 1 percent of B.C.’s nominal GDP. However, the expected increase in economic activity, consumer spending, and job creation is anticipated to offset a significant amount of the revenue loss.
We have taken a long, hard look at the province’s financial state and it is immediately apparent that we must reduce the NDP’s bloated public sector. Since 2017 we have seen an exponential growth in government and public service jobs: 137,193 positions- a 36% increase, with an added fiscal cost of $17.1 billion.
From July 2022 to July 2024 for every private sector job, the public sector expanded by 12 jobs! As expected with David Eby’s NDP government, we have not seen a 36% increase in the quality of service to our constituents. We hear daily from businesses and individuals who are frustrated every time they access provincial services – longer wait times, bureaucratic red tape, and more waiting. That’s not how you grow an economy.
Folks, as your MLA I must emphasize that it is imperative that we rein in the reckless spending and high taxes of Eby and the NDP and re-create the prosperous B.C. that existed nine years ago. We were the most prosperous province in the country. Now, we wear the stigma of a have-not province.
I want to hear from you about any concerns you have about this or any other issue. I read every email I receive. Please reach out to me at [email protected] or call my office in Kimberley at (250) 432-2300 or Revelstoke at (250) 805-0323.
– Doug Clovechok is Columbia River-Revelstoke MLA
