Victoria – The Canadian Taxpayers Federation is giving the B.C. throne speech a failing grade because it lacks a plan to provide tax relief and pay down the province’s ballooning debt.
“This throne speech offered no signs of relief for tapped out taxpayers,” said Carson Binda, the B.C. Director for the Canadian Taxpayers Federation who was in Victoria for the throne speech. “B.C. families are having to make hard choices over how they can put food on their tables, or pay to enroll their kids in after-school activities. Taxpayers need a break, not higher taxes and more spending.”
The CTF was in the legislature as Lieutenant Governor Janet Austin delivered the throne speech late Monday.
“Around the world, 51 national governments have cut taxes to help people afford the basics, but the Eby government refuses to follow suit and provide relief,” said Binda. “The premiers of Alberta, Ontario and Newfoundland and Labrador have all cut fuel taxes – why does Eby refuse to do the same?”
The NDP government’s throne speech did not mention any plans on paying down the debt.
The provincial debt sits at almost $100 million, meaning that every British Columbians owes about $18,600. That debt grows every day because of accumulated interest.
“We entered the year with a $5.7 billion surplus due to the government overtaxing British Columbians,” said Binda. “It’s a slap in the face to families struggling with affordability that Eby hasn’t used any of it to pay down the provincial debt. The current government is mortgaging away our families’ futures by ignoring the massive debt they’ve wracked up.”
This year interest on the provincial debt cost taxpayers $3 billion which is more than the entire endowment for the University of British Columbia.
