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October 30, 2017 5:20 pm

Some NDP Financial Plans Unveiled

Thursday, April 11, 2013 @ 10:41 AM

Vancouver, B.C.- The Provincial NDP have  unveiled their financial plan as they head  into the  provincial election campaign.  The pan calls for icreased  corporate taxes and an expansion of  the carbon  tax.

Here  are the  details as made available this past hour which  outline  some new revenue measures, and  some shifting of  existing government commitments:

Corporate income tax rate increased from 11 to 12 per cent. 
Effective October 1, 2013.  There will be no increase to the small business rate or the small business earnings threshold.
 
Corporation capital tax reinstated on financial institutions. Effective October 1, 2013, the NDP will reinstate the corporation capital tax on financial institutions. Banks will pay three per cent, while financial institutions with headquarters in BC including credit unions will pay one per cent. Credit unions with capital holdings less than $20 million will be exempt. 
 
High income earners’ personal income tax increased.
Effective January 1, 2014, the top two per cent of high income earners in BC will see an increase to 19 per cent on taxable individual income above $150,000.
Carbon Tax base expanded to vented oil and gas emissions.
Effective April 1, 2014, an NDP government will expand the application base of the carbon tax to include vented emissions from oil and gas operations.
Existing and budgeted BC Liberal government spending reallocated to new priorities.
Some examples of program reallocations include:
·       the BC Training and Education Savings Grant and Early Years Strategy will be repurposed into a new childcare and early education plan; and,
·       the Early Childhood Tax Benefit will be repurposed as part of a new poverty reduction strategy.
 
NDP platform co-chair Carole James said more details on these reallocations will be released as the NDP unveils its platform commitments.
 

Comments

In other words they are going to tax the $hit out of everything they possibly can.. Great Plan!!

The years under the Liberal government haven’t been without controversy. There has been “good” things as well as “bad things. With that being said, I can’t help but think of our province as the Titanic heading across the Atlantic. Up ahead, out there in the darkness is the “ICEBERG”!

We all know what happens when we hit the iceberg. I think of the NDP as the iceberg, with only a bit of it visible above the waters surface. Now it looks like we are finally going to get to see what’s hidden under the water.

Let’s hope that there are enough life boats for all of us!

Icebergs do melt tho. Unfortunately they didnt hit the high income earners harder.
Cheers

“with headquarters in BC”
Are they outright daring companies to move to Alberta now? They must get a kickback from the Alberta government or something

Retired 02… Hit the high income earnings harder??? What would you like to see them pay? This looks like incentive to earn less or move.

sounds pretty straight forward. raise taxes to help offset the loss of tax from people who flee the province when they lose their jobs in the next 4 yrs

This looks like incentive to earn less or move.
==================================
So where would they move to? I dont think that the new City manager would be able to work from Alberta to manage our City. Is this possible?
Put brain into gear before opening mouth.
Cheers

Finally a government that has the fortitude to apply the carbon tax to the real polluters….the oil and gas sectors are by far two of the biggest spewers and venters of CO2.

Not sure I like the tax increase to 19% for income earners of 150,000 or higher. In the USA Obama originally tried to set the tax increase for income earners making 250K or higher but after a lot of push back he had to increase it to 400K for individuals and 450k for married couples.

Retired 02, my brain is in full gear thank you very much…most professionals/business owners that earn at those levels are NOT stuck in a location. A doctor for example, can easily move from BC to other jurisdictions with more favaourable tax treatment. Look at the ‘film industry’ leaving BC once there were better tax incentives elsewhere.

Sounds like someone might be a little jealous that others are more successful than him. Shame when you have to spend working life on the end of a shovel, should have stayed in skool:P

Alberta bound, Alberta bound… It’s good to be Alberta bound.

Prediction: After they get in, the NDP will be saying, “Things are worse than we thought. Taxes wlll have to be raised higher than we previously thought to compensate.”

Posted by: JohnnyBelt on April 11 2013 1:18 PM

Prediction: After they get in, the NDP will be saying, “Things are worse than we thought. Taxes wlll have to be raised higher than we previously thought to compensate.”

———————–

And PST will have to rise a percent or two. But it won’t matter since there will be no one left working here anymore.

JB, yes. The Exodus is about to begin! It happened twice before and it will happen again. One doesn’t have to be a Nostradamus to predict it. Irrefutable History proves it.

Axman, there will be plenty of people to pay the raise in PST…they will be employee’s of the government.

The Exodus is about to begin! It happened twice before and it will happen again.
=============================================
Yet here we remain .. slow learners or too comfortable in our old shoes?

DNHey could you please explain the carbon tax to me?

Some business owners have been planning for the day the NDP gets voted back in by setting up company shops in Alberta.
Like it or not, not everyone should be paid the same and those who are fortunate to have high paying jobs or businesses will move where they pay the least tax. I think everyones taxes should be lowered, the problem is incompetent beauracracy and the fact that most people arenot willing to save, they want everything now.

We could use a guy like Ralph Kline!!

I have heard Jimmy Pattison is going to dismantle every single Canfor sawmill and pulpmill in BC and move them to Alberta if the NDP gets in!!!!!

The good thing is that he will still have to truck the wood to Alberta, so lots of jobs in any case!

I heard a rumor that David Black is going to move his refinery from Kitimat to Fort Mac if the NDP get in!!!!

obiwan

Now that he is dead, Ralph Kline could not do any worse than Christy Clark! Bring him on!!!

Here is hoping JohnnyBelt and PrinceGeorge are first on the Exodus Bus.

I heard a rumor that David Black is going to move his refinery from Kitimat to Fort Mac if the NDP get in!!!!
=========================================
How much better can it get! And there are many more on this page that should “put brain in gear before the open mouth.

First our Jimmy has to have timber in AB before he can even saw one board.

How can a doctor move to AB? Will he take his patience with him?

Tnere are litterly thousands of who get more then 150 grand a year that would not be able to leave the province for that great land of AB.

Many of us left AB when all they had was horses and Cowboys and even today they are giving their oil to the good old USA at half the world price. So how much long can that last.

And there are many that should be moving to AB they would fit right into that AB culture.
Cheers

herb: “Here is hoping JohnnyBelt and PrinceGeorge are first on the Exodus Bus.”

Careful Herb. That kind of talk might hurt my feelings. Smoke another one, bud. ;-)

High income earner? Is that anyone who isn’t on welfare?

High income earner? Is that anyone who isn’t on welfare?

Don’t let the door hit your ass on the way out….

Raise taxes AND institute a “poverty reduction strategy”? Only in the mind of a socialist.

Move to Alberta then, and enjoy their balanced budget (oops, I mean its $5 billion deficit)!

So here it starts but is it true? I’m sure the document will change many times and be back dated once or twice.

Oh my. Everyone loves to “stick it to the Man” until he or she grows into the role of “The Man”. Someone has to pay for these things and it appears that a carbon tax will be what every idiot will want.

DNHey could you please explain the carbon tax to me?

seamutt, as I understand it the plan is to impliment a carbon price increase to capture process emissions; emissions in natural gas processing that are currently being measured and vented for example, during emergency shut downs, pipe replacement, failures, etc.

I also understand that chemical process emissions in aluminum, cement and lime will be exempt from a carbon tax increase, as will agriculture and fugitive emissions….overall purpose is to lower green house gas emissions and invest revenues from carbon tax to improve transit and help communities develop green initiatives.

Retired 02, doctors are in demand worldwide, so being able to practice elsewhere (with better tax rates)would not be that difficult. Secondly, of course they would not take their patients, those would be left behind in BC,with no doctors looking after them.
For those saying for ‘the wealthy’ to leave, how do you propose to replace the several millions in taxes they pay per month to the government to pay for your hospitals/schools etc.?

The tax increases released by the NDP are the same as the ones released by the Liberals.

Need more taxes to pay for the $million club of retiring and retired politicians. If I remember correctly it was the Liberals that belly ached about pensions when they were in opposition so much so that Clark changed the system.Fast forward to 2007 when the fiberals are in power; what do they do? You guessed it; they made those golden handshakes even richer. Just ask Bell. He will be in the over Million$ club if he collects until he is 80.

Screw Alberta. Grow a pair & move to the US. Canadian socialism is just gonna keep raising it’s ugly head.

Like the USA can balance a budget.

Herb: “Don’t let the door hit your ass on the way out….”

I think we might have BC’s new slogan!… either that, or “Last one out, turn off the lights.”

This is unbelievable.

There’s a problem with sticking it to the people that support this Province. The problem is that many of them have ways to defer their income.

By sticking it to them, you might actually find that you collect less tax.

The 2014 business man of the year in Alberta goes to the individual that has done more to promote and foster growth in the business community in the great province of Alberta. A big round of applause for the 2014 winner, Adrian Dix

“For someone earning $200,000, that could raise their personal income tax by an extra $1,100 a year, Ralston estimated”

Sure spend $20,000 moving to Alberta or the USA to save $1,100. What a bunch of financial genius these Lieberal supporters are.

Pretty much secures my vote for anybody but the NDP now. It will be a frosty day in hell before I vote for this party. They still have no idea where the money comes from. Every single increase in taxes to a corporation will just get passed on down to the consumer. (The end user) Some solution.

BYOB
Then I guess you aren’t voting for the Lieberals either. In case you did not notice, they also raise corporate taxes in their budget. Good luck with the Conservatives !

When ya all leave BC for greener pastures I hope the door hits you in the AZZ on your way out. Hopefully it’s a one way trip. Let us know how the Alberta middle class react to ya when they find out you’re there to pillage their bank accounts like you and your liberal pals did in BC.

SAYONARA!

You pay taxes in the province you reside in on Dec 31st of the year no matter where you earned the money – least that is how they used to do it (haven’t done my own taxes in a couple years to be 100% sure)

@herbster NDP has plans to get rid of the balanced budget law on the books in BC. The line should read “last one out turn off the lights”

How many times did the Lieberals respect that balanced budget law? What is the point of having a law that is a lie? Oh I forgot -you must be a Lieberal!

All you whiners might as well start packing.

http://www.threehundredeight.com/p/british-columbia.html

The problem with all the arguments above is that even if these income tax increases were put into place they would still be at a lower rate than Alberta or the USA.

A progressive tax increase would only begin to swing the responsibility back from the poor and middle class that have been hit hardest from the regressive carbon tax, MSP premiums, HST, user fees of the BC liberals.

I actually like the idea of taxing the banks… hard to believe we have so many people on this discussion so concerned about the tax increase to banksters with headquarters located outside of BC. The folks driving the outsourcing of Canadian jobs, inflating debt bubbles, and off shoring profits should have to pay taxes too like the rest of us

My concern is with the repurposing (?) of the education savings grant. This is a fantastic program and one of the only true free enterprise policies the BC liberals had in that it helped to ensure equal opportunity for all children in BC to save for a higher education. Education is becoming an issue of the haves and have nots… only those with the dollars can have a post secondary education. Early childhood education grants for future post secondary education savings is a good policy IMO.

DNHey the carbon tax is just a money collecting sham. Schools and hospitals already short of money have to pay a carbon tax. Where does that tax go, to fiberals friends and soon NDP friends.

Even if C02 affected climate and there is empirical evidence it does or maybe by how much, BC’s contribution is about .01% of the worlds total. Considering the C02 added by China and India just what pray tell is the result of this carbon tax except for another way to pick your pocket. You bin duped.

In 1991 the Social Credit government introduced a balanced budget law. There was an election and the NDP repealed it and doubled the debt in the next 8 years, their only surplus budgets coming in the last years of their term from record energy exports (did we ever get paid for these exports?). The NDP set 2004 as a date to implement balanced budgets.

The Libs put in a balanced budget law in 2004 and were doing good until the global recession hit in 2009 and had to amend legislation to allow deficit spending.

I myself would rather see the party in power go to the house and say we can’t do it this year due to ‘X’ than allow themselves the latitude of deficit spending willy nilly with rhyme nor reason.

Slinky, if we had a ‘balanced Budget law’ the impression created is that the Budget is being balanced solely from taxes. That we are spending (‘consuming’) absolutely everything we are receiving (‘producing’) in one and the same fiscal period. Including all expenditures on ‘capital’ (infrastructure lasting for years into the future). And that there is no benefit from any of this expenditure of any kind that lasts longer than the immediate fiscal period it’s incurred in. When this is not, and can not, ever be the case. Were it so, there could never be any ‘progress’ ~ we could never go ahead. Far better that we press for proper accounting in government. Have a set of books where WE, who are the ultimate payers of all governmental expenditure, can see the ASSETS instead of just the LIABILITIES. With a proper CAPITAL ACCOUNT, as is found in the books of any private business, where the accretion of the former over the latter, (if the Province is being truly well governed), can be shown figuratively. We don’t have that now, and it creates great confusion in the minds of the public as to whether the debts incurred by government are being used to actually advance the well-being (‘wealth’) of British Columbians as a whole or frittered away to the exclusive benefit of some special interest group that runs the Party in power, whichever one it may be.

Is there a big fine if the government doesn’t balance the budget? Jail time? Job loss for the leaders? Such a joke. Kinda like our justice system.

Hey herbster, why are you so angry and bitter? You should be happy, your NDP buddies will be running the Province soon.

I like “hart guy” analogy saying that we are the titanic and heading for the ndp being elected and the ndp being the iceburg we are to hit. I agree with that and would add that we will in fact learn quickly how bad our fate will be once they are in power.

We have a frying pan or fire decision this election and its as bad as it has ever been. It will be a disaster if either party forms a majority government.

The only hope I have is that we end up with a minority government and a handful of independents in the middle. The times of one or the other party ruling this province with a dictator has to end.

Hopefully people will vote for the best MLA rather than voting for a party and if they do that we should end up in a minority government with several independents. For those who think it must be a majority one way or the other ought to have their head examined.

wood: “For those who think it must be a majority one way or the other ought to have their head examined.”

That’s irrelevant. A minority government will never happen in this province. There are only two major parties.

On the Province of BC web-site, the governing party of BC from Dec 1947 until Aug 1952 is listed as “coalition”.

I remember Christy Clark winning the leadership of the Liberal party and watching the liberal group photos with forced smiles as if they had just swallowed a rotten cat and it was stuck in their throats. Hence the huge exodus of a large number of very prominent liberal MLAs, most of which were cabinet ministers. Aside from the many excuses given and all the pleasantries, the reality is that most who left were capable and aspiring to continue in politics if they would have been allowed to contribute or able to work together with their new leader. She is a good speech reader, she is consistent and shows initiative to install the words “jobs and families” into every sentence regardless whether she was told to.
We might know what to expect from this leader but we cannot predict how the new liberal MLAs will react to her leadership should any of that happen.

When Adrian Dix and the coup prevailed in over throwing Carol James you could sense that the smart ones realized they had just elected a person who had never lead anything as well as completely void of an original thought. The fact that he to this day will not say anything that means anything proves that to be the case. If you watch carefully it is Carol James who is answering the harder questions and keeping the NDP messages at a kindergarten level so that Adrian doesn’t get them mixed up, blurt something stupid and sewer the party. Its great that the NDP candidates are all keeping their leader and their platform from being known to the public but they too will have to follow this clueless imposter once they win.

If that is what can be seen from the outside, then imagine the dynamics within these parties? If neither party is happy with their leader’s abilities to lead their own party then neither will anyone be happy when they try to lead this province. The next governing term, however that might look and for however long it lasts, is one that is going to shock the most cynical to which the depths that BC politics will plunge.

It has been said that this election is a choice between electing Casey or Finnigan, mesmerizing as that seems to be, as only one speaks, but really, they are both puppets that have no business running this province.

Just read this Vancouver Sun story that I spotted on Google Finance. Thought some of you might be interested in it:
http://www.vancouversun.com/business/economy/Standard+Poor+gives+highest+possible+rating+over+budget/8237125/story.html

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