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BC NDP Releases Cost of Platform

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B.C. NDP reveal full cost of election platform

Critics say tax hikes planned for companies would harm B.C.'s economic outlook

CBC News

Posted: Apr 11, 2013 10:04 AM PT

Last Updated: Apr 11, 2013 7:28 PM PT

B.C.

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bc-election-ralston-130411.jpgRAW: B.C. NDP's planned tax hikes2:53play-media.gif

BC. New Democrats revealed the full cost of their election platform, saying in an announcement in Vancouver Thursday that they would maintain the same deficits that they say already exist under the Liberal government.

NDP finance critic Bruce Ralston and former leader Carole James laid out the details of the party's bottom line, and said an NDP government would increase corporate tax, reinstate the capital tax for financial institutions, raise personal income tax for high earners and expand the carbon tax.NDP finance critic Bruce Ralston and former leader Carole James lay out the party's bottom line in an announcement in Vancouver. (CBC)

NDP Finance Critic Bruce Ralston says the NDP's fiscal plan is all about boosting revenues and spending.

"We're being upfront about the way in which we are going to pay for what we regard as important public programs," he said.

Ralson and James repeated a promise by Leader Adrian Dix that, if elected, the NDP would increase the corporate income tax from 11 to 12 per cent, saying it would generate an extra $200 million in revenue for the province.

The personal income tax rate on net taxable income earned above $150,000 per year would also rise to 19 per cent from 16.8 per cent, but only on earnings above that threshold.

'We've been very prudent and very clear, unlike the B.C. Liberals.'
—B.C. NDP finance critic Bruce Ralston

For someone earning $200,000, that could raise their personal income tax by an extra $1,100 a year, Ralston estimated.

The carbon tax would not increase but would expand to include venting emissions from the oil and gas sector, he added.

The party would also cancel a $1,200 RESP program from this year's budget and redirect the funding towards education, said James.

Balanced budget in four years

Ralston said the NDP would run a $790 million deficit in its first year as government, and its goal would be to balance the budget within four years.

"We've been very prudent and very clear, unlike the B.C. Liberals," said Ralston, who last week criticized the Liberals for underestimating the size of the provincial budget deficit by about $800 million by booking the sale of government assets, even though there were no signed deals in place.

Ralston said Thursday an NDP government would "respect" any sale agreements already signed, but might take other properties off the market.

The party will roll out further details of how they would spend the extra revenue from the proposed tax increases and reallocate other Liberal spending during the upcoming election campaign, said James.

Critics blast fiscal plan

The announcement comes just days before the official launch of the election campaign and follows criticism from B.C. Liberal Leader Christy Clark of the NDP for not releasing the cost of the party's platform.

The B.C. Liberals say the plan is fatally flawed, and B.C. Finance Minister Mike de Jong said the NDP's plan would harm B.C.'s credit rating.

"If the NDP were give the opportunity to implement this plan, British Columbia's credit will be downgraded. That is a certainty," de Jong said.

Iain Black, president and CEO of the Vancouver Board of Trade, said the tax hikes will push investors to take their money elsewhere.

"This is not good for our economy. It is not good for job creation. It is not good for the future of British Columbia's ability to take it's rightful place on the global stage," Black said.

Voters will get a chance to compare the policies of all four parties when leaders of the New Democrat, B.C. Liberal, B.C. Conservative and B.C. Green parties gather April 29 at 6:30 p.m. PT for an all candidates' debate.

The B.C. election takes place on

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carbon tax can go straight to hell. Its just a cash grab created by the liberals and now added to by the NDP. Both parties are garbage.

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Its actually a very bland blue print - bland as in no suprises. 2 of the 3 taxes are also going up under the Liberals plan - not as high on higher earners but still going up. The biggest difference is the NDP plan does not include phantom revenue from crown asset sales like the Liberals do. Of course the normal right wing supporters have been in the news crying that the sky is falling and businuess will leave - of course its all 2 faced as the businuess tax increase is also in the Liberals plan. Biggest difference will be on how and where the money will be spent and that's what I am most wanting to see

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They're being very clear about their taxation increases but don't say anything about what programs they plan on spending it on.

Let me guess...higher wages and better benefits for public sector workers/unions.

No-one knows better how to spend your money than a socialist government. It never changes.

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In the 1990's under the NDP I as a public worker got 0-0 , 0,0,2 - 0-1-1. If you have info that I got huge wage increases could you kindly let me know where to pick up that money cause I have never seen it. In fact if the BC Liberals had not rolled my wages back 15% I would have gotten more raises under them than I did under the NDP.

What I did get under the NDP was job security - under the BC Liberals there have been massive job losses due to contracting out and contract flipping.

The myth that public sector workers get huge raises under the NDP is a myth created by the right wing to fearmonger. Truth is that public sector workers are told that they should settle for less to help show the NDP can be good goverment and because we need to understand the province was broke. Why do you think the BC Liberals had such a huge win in 2001 - Because public sector workers where upset at so many years of zero wage increases and beleived Mr Campbell when he said that he would respect contracts

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You fail to mention that in lieu of pay raises, public sector unions get far more benefits than the private sector get. Benefits that will cost the taxpayer far more in the long run. I am talking about the defined benefit pensions that public sector workers get. Such pensions are now rare in the private sector. Many governments in the world are stuck with the unfunded liablility of such pensions and have to renegotiate them or face bankruptcy. Cities in the US like Stockton, California have already declared bankruptcy.

A job that pay say $20/hr, if you add in the benefits, your real wage may be $30/hr.

Not to mention the health and dental benefits that workers in most small businesses don't get. Or the ability to bank sick days.

As for job security, why should there be such such a thing. No one gets a job for a life. I can't imagine someone working at the same job for 30 or 40 years. Nowadays people change jobs like the change clothes.

BTW, the Liberals did not win a huge majority because unions voted for them. The NDP was full of scandal, as the Liberals are now, and the economy was in the tank. The public thought they did a poor a job and booted the NDP out. Which is the also the reason the Liberal will be booted out.

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Its actually a very bland blue print - bland as in no suprises. 2 of the 3 taxes are also going up under the Liberals plan - not as high on higher earners but still going up. The biggest difference is the NDP plan does not include phantom revenue from crown asset sales like the Liberals do. Of course the normal right wing supporters have been in the news crying that the sky is falling and businuess will leave - of course its all 2 faced as the businuess tax increase is also in the Liberals plan. Biggest difference will be on how and where the money will be spent and that's what I am most wanting to see

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Sounds like the NDP are getting flak from their critics for being honest with their platform.

Maybe they should of lied like the corrupt Liberals...

In 2009, then-finance minister Colin Hansen tabled a pre-election budget with a $500-million deficit. After voters went to the polls and put the Liberals back in Victoria, Hansen presented a new budget with a deficit of almost $3 billion.

Lying to the BC voters to the tune of 2.5 billion to get into power is worse than back dating a memo.

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name='bolt' timestamp='1365793367' post='11297219']

I've decided to abstain, the liberals don't deserve my vote and NDP platform isn't the best

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You fail to mention that in lieu of pay raises, public sector unions get far more benefits than the private sector get. Benefits that will cost the taxpayer far more in the long run. I am talking about the defined benefit pensions that public sector workers get. Such pensions are now rare in the private sector. Many governments in the world are stuck with the unfunded liablility of such pensions and have to renegotiate them or face bankruptcy. Cities in the US like Stockton, California have already declared bankruptcy.

A job that pay say $20/hr, if you add in the benefits, your real wage may be $30/hr.

Not to mention the health and dental benefits that workers in most small businesses don't get. Or the ability to bank sick days.

As for job security, why should there be such such a thing. No one gets a job for a life. I can't imagine someone working at the same job for 30 or 40 years. Nowadays people change jobs like the change clothes.

BTW, the Liberals did not win a huge majority because unions voted for them. The NDP was full of scandal, as the Liberals are now, and the economy was in the tank. The public thought they did a poor a job and booted the NDP out. Which is the also the reason the Liberal will be booted out.

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I pay for a large part of my benefits thanks.......it comes off my cheque every month

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Shhh. Let us build a society where everyone is low paid and has no benefits and can lose their job at any time. That's Canada the right wing can believe in.

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Still voting Green unless a better alternative pops up. Had it with both the Libs and the NDP.

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