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submitted 2 months ago by SamuelRJankis@lemmy.world to c/canada@lemmy.ca

For anyone not keeping up, BC is about to have a election in 2 months. The current opposition party/previous incumbent party is currently polled to be almost completely wiped out in the election by the BC Cons. so this seems like a go for broke maneuver.

A B.C. United government would eliminate the provincial income tax on the first $50,000 earned by every British Columbian, Leader Kevin Falcon announced Tuesday.

The move would save British Columbians an average of $2,050 a year each at a time when people are struggling to afford the rising cost of living, Falcon said.

The tax cut would cost the province $5.4 billion in tax revenue, B.C. United says.

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[-] SamuelRJankis@lemmy.world 2 points 2 months ago

Since the article didn't include on relative terms what it means:

From the BC Budget and Fiscal Plan 2024/25 - https://www.bcbudget.gov.bc.ca/2024/pdf/2024_Budget_and_Fiscal_Plan.pdf

Revenue by Source pg.148

In comparison to budgeted expenses 2024/25

  • Double what we spend on transportation (2 .775B)
  • Total Healthcare(35.944B)
  • Just for the Cons amongst us. Debt servicing(4.105B)

Expense by Function pg.150

this post was submitted on 13 Aug 2024
15 points (100.0% liked)

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