NDP promises tax hikes if elected
NDP leader Adrian Dix sits down with 24 hours for a year-end interview Wednesday, Dec. 19, 2012. (CARMINE MARINELLI/ 24 HOURS)
Corporations, banks, polluters and the wealthy will pay more if the BC NDP wins the provincial election.
The party's fiscal plan, unveiled at Simon Fraser University Thursday, calls for: a one point rise in the corporate tax rate from 11% to 12%, reinstating a 3% bank tax, expanding the carbon tax to include vented oil and gas emissions, and raising the personal income tax rate to 19% on incomes over $150,000 a year.
The party, if elected, also plans to run the same $800 million deficits it alleges the ruling BC Liberals are hiding. In total, the NDP would run nearly $2 billion in deficits over the next three years until the party, it says, would balance the budget in year four of a NDP government.
"We’re looking at those who have a little more to give a little more,” NDP finance critic Bruce Ralston told reporters.
But the BC Liberals aren't buying it, and Finance Minister Mike de Jong blasted the plan as "the same old NDP."
He said the NDP's plan was an attack on business and successful British Columbians and won't ever be balanced.
"The bottom line is this: The NDP is afraid to show British Columbians their bottom line," de Jong said in a statement. "They want to hike taxes on people who create jobs in BC.
"You can't have a fiscal plan that doesn't actually have any targets, but it's not surprising as balancing the budget wasn’t important to Adrian Dix the last time he was in the Premier’s Office and it is clear that it isn’t important to him if he returns."
The fiscal plan is a broad look at how the NDP will pay for its election platform, which will be detailed during the campaign. On Thursday, the party promised a childcare and early-education plan and a poverty-reduction strategy.
Earlier this week, NDP Leader Adrian Dix proposed increasing the tax credits for TV and film productions in the province to 40% of labour costs.
Current polls show the NDP with a sizeable lead over the Liberals.
Premier Christy Clark is expected to outline her party's election platform Sunday during a 30-minute TV address.
The campaign for the May 14 election officially begins Tuesday.