B.C. Liberal finance critics Shirley Bond and Tracy Redies respond to first NDP budget. (Black Press)

BC BUDGET: Liberals blast ‘tax and spend’ plan

Payroll tax, carbon tax increase threaten growth, opposition critics say

The NDP minority government will keep B.C. finances in the black for the next three years, thanks to strong economic growth, Finance Minister Carole James says.

But B.C. Liberal finance critics Shirley Bond and Tracy Redies says they shouldn’t count on that growth as they add to the business tax burden, with a payroll tax to replace Medical Services Plan revenues and a carbon tax that is rising and no longer revenue neutral.

“This is a government that continues to have a massive spending promises and very little attention paid to revenue generation in the province,” Bond said. “If you can imagine adding a payroll tax, a carbon tax, the list of taxes is lengthy, on the very people that the NDP government are assuming will grow the economy.”

Redies said the NDP’s first budget predicts an 11 per cent increase in personal income tax revenue in the next year, equivalent to $1,000 for each family.

“On the resource side, revenues are actually predicted to drop in our core industries,” Redies said. “That should be astounding for British Columbians, that this government is predicting resource revenues, forestry, mines to decrease over the next three years.”

RELATED: Payroll tax to replace medical premiums

James’ first full budget predicts a surplus of $219 million in the fiscal year starting April 1, with surpluses of more than $280 million in the next two years. That is despite what the government describes as record investments in housing and child care and another large increase in health care spending.

The latest projections from the finance ministry show increased taxation and resource revenues this year, offset by $884 million less revenue from ICBC and $183 million more than forecast in wildfire costs for 2017-18.

Economic growth is projected to be 2.3 per cent in 2018, up from 2.1 per cent estimated last September.

Just Posted

More seniors in Terrace area struggling to afford food

The number of adults who used the Terrace Churches Food Bank jumped by 70 per cent from last year.

Terrace Peewees win provincials

The Midgets won bronze and Bantams finished fifth, with the female Midgets still playing

Bigger and safer bridge to be built across the Nass

New two lane bridge will accomodate heavier commercial vehicles

B.C. NDP offers tax breaks to jumpstart LNG Canada in Kitimat

‘We’re not giving away more money,’ Premier John Horgan says

UPDATE: Snowfall warning ended for Hwy 16 – Smithers to Terrace

Cloudy, warmer rain showers are expected to change to snow after midnight.

Vancouver Aquarium’s resident octopus released into ocean

Staff let the Giant Pacific octopus go into the waters near Bowen Island so she can reproduce

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Canada’s Kaetlyn Osmond wins figure skating world title

The 22-year-old fwon the women’s singles crown with her Black Swan routine

B.C. pooches celebrate National Puppy Day

Check out some of the submissions from around B.C. for National Puppy Day 2018

Alberta tells B.C. to stop opposing pipelines if it doesn’t like gas prices

John Horgan said he would like to see the federal government step in to deal with high gas prices.

B.C. mother hit in truck rampage dies

Family confirms mother of four Kelly Sandoval dies almost two months after being hit.

Walking from Argentina to Alaska

Holly ‘Cargo’ Harrison is now in northern B.C. on his journey from Argentina to Alaska.

PHOTOS: Students exhibit stunning paper couture dresses

22 paper made gowns will be on display at Vancouver’s Oakridge Centre until March 27

Fatal crash closes Highway 97 south of Prince George

A two-vehicle crash in the Cariboo has claimed the life of one person and sent another to hospital.

Most Read