The B.C. Conservatives are promising billions in tax relief, increased health-care spending and a stronger resource sector under a costed election platform that forecasts a $10.8-billion deficit by 2029-30.
Conservative Leader Lorne Doerkson said the party’s plan focuses on putting more money into British Columbians’ pockets while growing the economy to help pay for its commitments.
The platform, titled Ready to Deliver: A Plan for a Stronger BC, outlines $11.1 billion in tax relief over four fiscal years, alongside projections of $2.6 billion in additional government revenue from economic growth over three years.
A central promise is to increase the provincial basic personal income tax exemption from $13,216 to $32,000, providing savings of approximately $1,000 annually for eligible taxpayers, or $2,000 for a two-income household.
The measure would take effect for the 2027 tax year and cost the province an estimated $2.9 billion annually.
In an interview, Doerkson said the tax cut represents a significant investment but argued it would also help stimulate economic activity.
“Certainly British Columbians that are looking for relief are, I think pretty excited about this prospect,” he said.
“There is an opportunity to inject and supercharge our economy by putting that money right back into the economy.”
Doerkson pointed to government contingency funding and increased resource-sector activity as potential ways to offset the lost tax revenue.
The Conservatives propose reducing the province’s annual contingency allocation from $5 billion to $3 billion while pursuing additional revenue from forestry, mining and liquefied natural gas development.
The party forecasts economic growth of 2.5 per cent in 2027, 2.8 per cent in 2028 and 3.2 per cent in 2029.
Those projections are higher than the growth rates used in the NDP government’s forecasts and form a key part of the Conservatives’ financial plan.
The platform estimates stronger economic activity would generate an additional $1.72 billion in government revenue, with increased natural gas royalties and forestry stumpage contributing another $898 million over three years.
However, those revenues depend on the province achieving the party’s growth targets, which are projections rather than guaranteed revenue.
The Conservatives also plan to introduce a three-year provincial sales tax exemption on qualifying business machinery, equipment and software, estimated to cost $500 million annually.
Beyond tax relief, the party has outlined $1.425 billion in additional annual operating spending once its commitments are fully implemented in 2030-31.
Health care would receive the largest share, with $975 million annually allocated to initiatives including rural emergency services, long-term care, disability assistance, mental health treatment and support for seniors.
The plan also includes $223 million annually for public safety and wildfire-related initiatives, $150 million for family affordability measures and $72 million for economic development.
For resource-dependent communities, the Conservatives are promising faster project approvals, increased access to timber and expanded natural gas production.
The party wants to double natural gas production by 2032 and triple it by 2035 while increasing the annual Crown timber harvest toward 45 million cubic metres.
Doerkson said growing those industries is essential to improving the province’s financial position.
“We’re very focused on growing the economy in British Columbia, and frankly, we have no choice anymore. The debt that we owe is staggering.”
Despite the proposed savings and increased revenue, the Conservative platform does not forecast a balanced budget within its four-year financial outlook.
Instead, it projects a deficit of approximately $13.7 billion in 2026-27, gradually declining to $10.8 billion by 2029-30.
The party argues its approach would produce smaller deficits than its adjusted projection of the NDP’s fiscal plan, although that comparison includes Conservative assumptions about revenue the NDP may not collect.
The Conservatives are also promising an independent review of provincial finances, tighter controls on administrative spending and a review of major infrastructure projects.
Doerkson said the platform is particularly focused on helping lower-income earners, families and seniors.
“We want to support our seniors, we’re committed to helping through tax cuts.”
Under the proposed changes, individuals earning $32,000 or less would generally pay no provincial personal income tax.
With voters heading to the polls Saturday, Oct. 24, the Conservatives are positioning their economic plan as an alternative to the NDP government’s approach to taxation, spending and resource development.
