VICTORIA -- The leader of British Columbia's Opposition says he would introduce the largest provincial income tax cut in provincial history if his party is elected to form government this fall.
Kevin Falcon says BC United would eliminate the tax on the first $50,000 earned by every person in B.C., allowing taxpayers to keep an additional $2,050 on average.
He says the cut would eliminate provincial income tax for 60 per cent of B.C. residents, or more than 2.4 million people.
Falcon says the tax cut would benefit many elderly people on fixed incomes and families who struggle with the high costs of living.
He says the promise would have a roughly $5.4-billion-dollar impact on B.C.'s budget annually, but he expects it would be offset by increases in private investment and personal spending.
Falcon says the tax cut would not result in cuts to government services.
This report by was first published Aug. 13, 2024.