BC United, led by Kevin Falcon, has announced plans to implement the largest middle-class tax cut in British Columbia’s history, aimed at alleviating the financial burden on residents across the province. The proposal includes eliminating provincial income tax on the first $50,000 earned by every British Columbian, a move that will result in the complete elimination of provincial income tax for 60 percent of the population.
Under the new plan, BC United will increase the Basic Personal Exemption from its current level of $11,980 to $50,000. This change is expected to put an additional $2,050 per year into the pockets of many British Columbians, providing significant relief for those struggling with the rising cost of living. The policy is particularly targeted at average earners, nearly eliminating their provincial income tax burden, with average incomes in the province standing at $54,450.
Kevin Falcon emphasized that this tax cut is necessary to combat the affordability issues that have plagued British Columbia during the tenure of Premier David Eby and the NDP. Falcon stated that the NDP’s policies have made life increasingly unaffordable for many residents, leading to a rise in the number of people leaving the province. He argued that the proposed tax cut would provide immediate financial relief, reflected in higher take-home pay for a large portion of the population.
BC United’s Shadow Minister for Finance, Peter Milobar, highlighted the broader impacts of the tax cut, asserting that it would help families, students, and seniors afford to stay in the province. He also underscored the party’s commitment to balancing the budget and restoring fiscal responsibility in British Columbia.
This historic tax cut proposal by BC United comes as a response to what the party describes as a growing affordability crisis in the province, with the aim of creating a more affordable and financially stable future for all British Columbians.