Last week, the Conservative Party of BC held an all-candidates meeting in which they spoke about how taxes in the province are too high.
The BC NDP are critical of this notion because while Conservative Leader John Rustad and one of his candidates, Yuri Fulmer spoke of taxes being too high, they were referring to the tax bracket for the top 2% of earners in BC.
“We’re the fourth highest taxed jurisdiction in North America,” said Fulmer at the meeting. “53.5% is our top marginal tax rate.
“”It is really tough to incent people to come here and work when more than half of their income is going to taxes.”
An important watch: Rustad’s star candidate Yuri Fulmer is openly pushing tax breaks for the top 2%.
The tax rate he’s talking about here is the top bracket – everyone else in BC pays the lowest income taxes in Canada.
This is important for unpacking Rustad’s agenda. ???? pic.twitter.com/prd02ta7pz
— Spencer Chandra Herbert (@SChandraHerbert) October 8, 2024
The BC NDP have pointed out that the 53.5% tax rate is only applied to those who earn over $252,000 a year.
Meanwhile, low and middle-income British Columbias actually pay the lowest provincial income taxes in the country.
Those who earn between $50,000 and $60,000 are only taxed at a rate of 4.1%, whereas Alberta would tax at a rate of 5.6% and Nova Scotia would tax at a rate of 9.8%.
Fulmer also spoke of how taxes on the wealthy are a bigger affordability challenge than housing costs in the province.
The BC NDP note that Fulmer himself is within the tax bracket he was criticizing, as he owns 36 A&W restaurants and his business generates over $60 million annually.
“If you’re a billionaire who wants your BC Liberal tax breaks back, John Rustad is your guy,” Jodie Wickens, BC NDP candidate for the Coquitlam-Burke Mountain electoral district.
“Those tax breaks for the wealthiest would mean higher costs for everyone else, including skyrocketing car insurance rates. But if you think the top 2% should pay their share so we can lower costs for everyone else, let’s stick with David Eby.”
Since the BC United Party dropped out of the race in the provincial election, the BC NDP and Conservatives have been neck and neck.
According to 338Canada, both parties are polling at 45% of the popular vote in the province.
Rustad, Eby and BC Green Party Leader, Sonia Furstenau will be debating top campaign issues tonight, on Tuesday, October 8th from 6:30 p.m. to 8 p.m.
