David Eby Vows to Raise Millionaires’ Taxes If Re-Elected as B.C. Premier

B.C. NDP Leader David Eby, who is seeking another term as premier, has announced plans to raise taxes on millionaires if his party returns to power. Eby said the additional revenue would be used to help cover rising health-care costs.

Under the proposal, the tax rate on annual income above $1 million would increase to 24.5 per cent from the current 20.5 per cent, a four-percentage-point increase. The NDP estimates the measure would generate about $1 billion in additional provincial revenue each year.

The B.C. Conservatives have criticized the proposal, warning that higher taxes could drive doctors and other professionals out of the province. The party said communities are already struggling to attract and retain doctors and other skilled workers.

Unlike the NDP, the B.C. Conservatives have pledged not to raise taxes if elected.