Eby’s BC NDP plan to fund healthcare by taxing wealthy residents more

David Eby’s BC NDP have announced a plan to provide better healthcare funding throughout the province by increasing income taxes for BC’s wealthiest individuals. 

This plan will see millionaires who can afford to be taxed at a higher rate pay more income tax, while a reported 96% of the province’s population will see no increase. 

Under the BC NDP’s plan, the highest earners—those who make over $190,000—will have their income taxes increased by 2%. 

Additionally, a new tax bracket for income over $1 million would be introduced. 

The BC NDP say that even with these adjustments, BC will continue to be the second lowest income taxed jurisdiction in Canada for those making above $250,000.

“In uncertain times, we have a plan to protect what matters most to you and your family, like healthcare that’s there when you need it and good schools for your kids,” said David Eby, BC NDP leader. 

“Unlike the BC Conservatives, we won’t cut healthcare and so we need to be honest about how we pay for it. As we face an unprecedented attack on our economy and rising costs for working families, we’ll ask the wealthiest to chip in a little more.”

Eby added that his party believes it’s fair to ask those at the top to pitch in a bit more so those who are struggling most do not have to pay more than their fair share. 

The BC NDP’s plan would bring in $1 billion dollars in new revenue annually by the 2028/29 tax year, and would reportedly be used to fund improvements in healthcare and to lower costs for British Columbians. 

The BC Conservatives, however, have not publicly announced how they will pay for their promises without cuts to public services.

“We know the BC Conservatives won’t ask millionaires to pay their fair share,” said Eby 

“They’ve made it clear that they will have to slash the deficit by cutting healthcare and education, on the backs of families.”

BC Green Party leader Emily Lowan has released a statement following the BC NDP’s tax plan announcement. 

Lowan says that this increase to the wealthy’s taxes should have come sooner and may not work as effectively as the BC NDP say. 

“After years of freezing childcare, cancelling affordable housing and sending workers to the picket line, Premier Eby has suddenly discovered that the wealthiest should pitch in to fund the services we all need,” said Lowan. 

“But by taxing income, Premier Eby is missing the point. The ultra-wealthy don’t get rich on paycheques. Their fortunes grow in stocks and real estate, and his plan doesn’t touch a cent of that. Tomorrow, the BC Greens will announce a plan to fix that.” 

The foundation of Lowan and her party’s platform is rooted in taxing the “ultra-wealthy” while easing off on income taxes for British Columbians in the lower tax brackets.